Everything was looking great for the property we wanted to buy. It had both a residential home that was beautiful and a large commercial building we could use as our shop for our family business. It seemed like a dream property for us. We called in the help of a company that does real estate appraisal in Sacramento for the full inspection and research of the property. Things looked great upon a cursory visual inspection of the place, but we knew better than to just trust what we saw. This is why every buyer of real estate needs to get a trusted appraisal.
The price was not high for the place, but it was not low either. It was right in line with what we expected if there was no issues with the property. The inspector was very thorough and found things that other inspectors may have overlooked. Things such as the outlets along the walls were new and so were the switches, but some of the wiring was old. Not so much a problem, but the circuits were nowhere near up to code. Cheap parts and materials were used in the renovations recently done too. There were violations in code requirements for the electrical system, sewer system and the water and gas lines too. Not just minor things either. The commercial building did not meet the requirements for fire safety for it to be open to the public. There was no sprinkler system.
That was not the end of it. The company we use to do the real estate appraisal in Sacramento found some liens on the property too. Apparently a divorce had resulted in some defaults on repaying some debt. The owner wanted to unload the place quick and put out a few bucks to pretty it up. We passed on the deal because of how much it would cost to get it to where we needed it to be. The appraisal saved us a fortune in costs and headaches.