Tag Archives: home inspection

A Tool Kit for Home Buyers to Help Avoid Potential Pitfalls

So you’re house shopping and you’ve fallen hard for a sweet little gem that seems, well, perfect. The photos are lovely, the walk-through revealed a number of amenities you’ve been seeking, the location is ideal.

This is it, right?

Not necessarily. A house — even a brand-new one — comes with a history and literally thousands of diverse components, some of which could be defective and cost big bucks to fix. A buyer’s ability to diagnose potential problems during a short visit? Limited at best.

Does the appraiser inspect for health and safety?  Contact the appraisers at www.scappraisals.com for your appraisal questions.

As a result, shopping for a home, like any potential relationship, can include elements of uncertainty, surprise and trepidation.

“I’m super paranoid,” says Jacob Moschler, a Hyattsville resident who’s been gradually moving toward homeownership with his wife, Thuan Do, but is nervous about choosing a home that winds up having a host of problems. “That’s one of the reasons we haven’t bought a house yet.”

A buyer, though, doesn’t have to jump wholly unaware into the unknown. There are a number of ways to gain information about the property — both its physical condition as well as its past — before buying.

There are several tools and sources to help you feel a little more secure before signing on that dotted line. Some are mandated by law, while others simply require a little extra legwork.

Read more: http://www.washingtonpost.com/realestate/a-tool-kit-for-home-buyers-to-help-avoid-potential-pitfalls/2012/11/08/fdda5b98-22c3-11e2-8448-81b1ce7d6978_story.html?hpid=z9

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What Buyers Need to Know About a Home Inspection

: When buying a home, is there anything in the home inspection that the seller must fix before the completion of the sale?

How does the seller know the contents of the inspection

A: That’s a very good question. First, when you sign a contract to buy a house (whether it’s an existing or a newly built home), it should contain a home inspection contingency. A contingency gives you the right to cancel the sales contract and get your earnest money refunded if a particular condition is not met.

Will the home inspection effect the value?  Contact the appraisers at www.scappraisals.com

There are, from my experience, two kinds of home inspections contingencies: (1) if the home inspector finds problems, regardless of what they are, you have the absolute right to back out from the sales contract; or (2) if the inspector finds problems, you present those to the seller and give him X number of days to correct or give you a cash credit. If the seller refuses, you can then decide whether to go forward with the purchase or walk away.

Personally, I like the first option; it gives the buyer a “cooling off” period. All too often, real estate contracts are entered into late at night when the buyer is both on an emotional high but at the same time emotionally drained.

Regardless, however, do not let anyone convince you not to have a home inspection. I have represented too many buyers who failed to get their house inspected only to find major (or minor) problems that could have been corrected before closing.

A good real estate agent should provide you with the names of at least two home inspectors.

You want to make sure that the inspector you use will be independent and not a mouthpiece for the real estate service that gives him the business.

read more at:http://www.chicagotribune.com/classified/realestate/ct-mre-1104-benny-kass-20121101,0,6248870.column

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Don’t Sign Contract Without Home Inspection

Q: I am in the process of buying an older single-family home and found one I like. I wanted to have my contract contingent on obtaining a favorable home inspection, but my real estate agent has been discouraging me. She claims that I may lose the house if I insist on the inspection. What do you think?

A: You are about to engage in what may be the biggest purchase of your life. You kick the tires when you buy a car. You should get an inspection, and if the seller does not allow this, walk away as fast as you can.

What happens to the appraisal if repairs are needed before the bank will finance?  Contact the appraisers at www.scappraisals.com for your appraisal questions. 

Read more at: http://www.chicagotribune.com/classified/realestate/ct-home-0810-benny-kass-20120809,0,3519368.column

Disclaimer: for information and entertainment purposes only