Get a Home Inspection
Bliss Green
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Get a Home Inspection
The last thing a mortgage lender wants to see is a home inspection. Avoid sending one to your lender because it will likely cause major problems.?However, it should always be the first thing you as a buyer see, and here are the reasons why.
?Buyers Beware
When you purchase a home, you are buying it in AS IS condition.?This means, you are agreeing to take ownership in the current condition of the property. Shouldn’t you know exactly what you are agreeing to??The home inspection is your opportunity to find out.?
When you pay an inspector to provide you a report, you are paying hundreds of dollars for them to checklist concerns/problems.?Don’t be surprised when the list gets long.?This is what you paid for.?The true facts are how much will it cost to remedy said concerns/problems.?If you can afford to remedy the problems with negotiation or ease, then there is nothing to fear or question.??If you are unable to remedy the problems, then you now have the option to cancel contract.??The point is, you need to know what you’re dealing with, so you need the report.
Concealer, Lipstick, and Mascara
You’d be surprised what a little make-up can do to create a beautiful appealing fa?ade.?The same is true with a house. There is so much safety?that the common person would not question or take issue with.?Therefore, building code permitting exist.?A home inspector knows if a property is safe, or up to standard building codes.?
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Most home inspectors will walk you through the property and identify what it is they see, so you’ll understand what you’ll be reading in their report. I always advise that a home buyer attend the home inspection for this reason.?Seeing is believing, and it makes the difference in defining the “severity” or “silliness” of a repair mentioned.
Repair?Negotiations or Concessions
Buyers always have options.?You are buying the home in “as is condition”, but no one said you can’t ask for what you want.?If you get a home inspection, you can use the report to negotiate concessions, or repairs to be made to the property.?Sellers do not have to entertain your request, but if they do, they will surely want to see the inspection report, (or possibly the?appraisal)??As markets shift toward buyers, you’ll see more negotiations, 50/50 splits on repairs, and or concessions.?
Get a home inspection. It is even one of our official lending disclosures. You may get the inspection and realize that the property is not what you thought it would be.?However, it’s better to know these things much sooner, than later.?An ounce of prevention is worth POUND$ of cure.
Inspections should not be feared because one of the options a buyer has, is to do a renovation loan.?If you qualify, we can re-structure the loan to purchase your home and cover any needed repairs required financing.??If you are interested in renovation lending options, and how the process works, let’s talk lending.