[goldstategop]

They do but its up to the buyer to order an inspection done. Caveat emptor. Don't rely on the Realtor's or contractor's assurances about the property. Get the fact-finding done first before you buy. And if the problems that do turn up don't deter you from buying the place, you can use that to your advantage by getting the price of the place reduced by getting a credit for any repairs that might need to be peformed. That's the difference between smart buyers and those who just buy a property sight unseen.

"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus

[Theo]

I concur. I bought a new home 2 years ago and had it inspected twice — prior to signing and prior to the 1-year warranty. They found “things” I never would have noticed.

[Roccus]

I understand, the buyer has his own responsibilities. My thought however is that since the house is collateral for the loan, wouldn’t the bank/lender be interested in whether or not the house is worthy of the loan. It seems from the article as if it’s the bank taking the big hit on this.