There are three real estate investment tools that all investors must have and use. Each tool is common sense but unfortunately not used. Each tool can save you thousands of dollars or in investment terms make you thousands of dollars. One of these tools is free and the other two cost only around $400 dollars total. Get your tool belt out and make room.

Tool number one is get a home inspection. I don’t care if the home is brand new you need to get it inspected. The obvious reason is to protect yourself from major repairs and the repairs that no amount of money can fix, but there is a not so obvious reason. Getting a home inspection can help you get a much better price for the home. The home inspection is a great bargaining tool. Let’s say that after you get a home inspection the estimated repairs are $10,000 dollars. You can now go back to the seller and negotiate either the sales price or get the seller to fix the problems. The other reason is peace of mind. I don’t want to buy a home without knowing what is wrong with it. How can I make a good investment if there could be unknown cost? A serious investor knows the true cost of the investment before making he investment. Make sure you order a home inspection before you buy.

Tool number two is a termite inspection. I live in the south and termites are eventually going to invade a home. It doesn’t matter what type of treatment you get on a home you will eventually get termites. The big question is what is the extent of the damage. Most homes in my area have small amounts of damage around the garage and doorways. The main reason you need a termite inspection is to protect yourself from major damage. It is easy to see the termites from the outside of the home but near impossible to see the damage inside the home. Do yourself a favor and get a termite inspection.

Tool number three is a home appraisal. I know what your thinking, doesn’t the bank take care of this. Yes, but their ordering an appraisal to protect their interest not yours. You need to know the value of the home before you make an offer. To often people look around the neighborhood they are buying in and get a ballpark figure. This is not good enough. There are several free online real estate appraisal serrvices on the internet and you should take advantage of each. It only takes a few minutes to receive reliable appraisals from these sites. Once you know what the property is worth it makes negotiating much easier.

Make sure you use all three tools religiously. Each tool will make you money and make your investment dollars go a long way.

For a list of home value websites, try visiting http://www.propertyhomeappraisal.com, a popular website that offers home appraisal tips, advice and resources to include information on real estate appraisal services and the best online home value sources. Get exclusive real estate leads today!

Source: www.articlecity.com