When buying a home, you want to be sure that you are getting your money's worth.
You won't find a perfect home. You can always expect to have to spend something on your new home. Within the first six months, you can expect to spend $6,000. So would you want to repair the things that you bought when in fact you should replace them?
You should have a professional home inspection to avoid such troubles. It's best if you find an inspector who is a member of an association that has very strict requirements for membership (such as the American Society of Home Inspectors and the National Association of Home Inspectors).
The inspector should give you a list of what the inspection will result in. For example, some inspectors would not inspect for termites, moulds, or indoor air quality. The inspector should also make it known to you that the report will not be a guarantee. The inspector is also not responsible for any repairs that would result from his report.
But even though you hire an inspector, you are still responsible for doing a little investigating yourself. For instance, you can still hire a termite inspector even if your lender won't require it. Ask the inspector to look for all kinds of pests. Termites are just one type of pest that can damage houses. So do carpenter bees, rats, squirrels and scorpions.
You might have been given a disclosure form with the signed contract for purchase. Most states require the seller to fill out this form. But don't let yourself rely only on this report. There can be a lot of issues that the owner doesn't consider major, or even forgotten. Yes, the basement might have gotten wet in the last ten years, but it can be forgotten by the owner.
Usually, disclosure issues arise because the buyers think that they have more power than they really do. So make sure that the inspector will have a copy of the disclosure and that he will check the issues that are brought up by the seller.
When you buy a home, you have to know everything about it, the neighborhood, the market conditions, and the mortgage options. This will give you a better negotiating tool when you deal with lenders and sellers. So make sure you have a full understanding of these things.
You won't find a perfect home. You can always expect to have to spend something on your new home. Within the first six months, you can expect to spend $6,000. So would you want to repair the things that you bought when in fact you should replace them?
You should have a professional home inspection to avoid such troubles. It's best if you find an inspector who is a member of an association that has very strict requirements for membership (such as the American Society of Home Inspectors and the National Association of Home Inspectors).
The inspector should give you a list of what the inspection will result in. For example, some inspectors would not inspect for termites, moulds, or indoor air quality. The inspector should also make it known to you that the report will not be a guarantee. The inspector is also not responsible for any repairs that would result from his report.
But even though you hire an inspector, you are still responsible for doing a little investigating yourself. For instance, you can still hire a termite inspector even if your lender won't require it. Ask the inspector to look for all kinds of pests. Termites are just one type of pest that can damage houses. So do carpenter bees, rats, squirrels and scorpions.
You might have been given a disclosure form with the signed contract for purchase. Most states require the seller to fill out this form. But don't let yourself rely only on this report. There can be a lot of issues that the owner doesn't consider major, or even forgotten. Yes, the basement might have gotten wet in the last ten years, but it can be forgotten by the owner.
Usually, disclosure issues arise because the buyers think that they have more power than they really do. So make sure that the inspector will have a copy of the disclosure and that he will check the issues that are brought up by the seller.
When you buy a home, you have to know everything about it, the neighborhood, the market conditions, and the mortgage options. This will give you a better negotiating tool when you deal with lenders and sellers. So make sure you have a full understanding of these things.
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