How Not to Win a Bidding War [Due Diligence]

by Osman Parvez
The most attractive listings in Boulder, priced appropriately and marketed professionally, attract multiple offers. Yes, even in this market.  

One way to increase the attractiveness of your offer (without increasing the price) is to limit the inspection (usually to health and safety items, or to a specific price threshold). Tightening up the inspection can help you win the bidding war, but forgoing the inspection entirely may cost a lot of money down the road. This is why.  

The service life for cast iron sewer pipes is 50 to 75 years. As the years go by, these pipes will rust away from the inside. Much of South Boulder was built in the 1950's, which means if the sewer pipe hasn't already been replaced, it will likely will need an expensive repair in the near future.  

A typical sewer scope will pick up root intrusions in clay, dislocations, and bellies. It might not catch a pipe that is close to failure and rusting away at the bottom.  

Never buy a house without an inspection.   

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The ideas and strategies described in this blog are the opinion of the writer and subject to business, economic, and competitive uncertainties.   We strongly recommend conducting rigorous due diligence and obtaining professional advice before buying or selling real estate. 

Please Note

This document contains forward-looking statements. You are strongly cautioned that investment results are subject to business, economic and other uncertainties. There are no guarantees associated with any forecast and the opinions stated here are subject to change at any time. Always consult your financial advisor before making an investment decision.