Inspection musts for long-distance real estate purchase

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Q: We are flying to Palm Springs, Calif., over the weekend and are hoping to find a condo for vacations and eventual "snowbird" retirement. But, if we do find something, I am concerned that an inspection would take place without us being there. Flying back and forth repeatedly for every little thing involved in this purchase could almost cost more than the condo! Do you think a fair and thorough inspection can/will happen without the buyer being there?

A: Absolutely -- I do think a fair and thorough inspection can happen in your absence, if you put all the right ingredients in place, which we'll get to in just a moment.

However, I'd still strongly encourage you to attend your inspection. I agree that flying back and forth can be uber-expensive, and I'm not suggesting you need to do it several times for a single property. But I have -- more than a few times -- heard deep buyer's remorse from buyers who saw their properties only o...