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Real Estate Tips
Home Inspections, Part 2
Home inspections may reveal needed repairs or questionable situations, and allow the Buyer to request those repairs or a price reduction.
Although the Buyer may request repairs or reductions after the home inspection, the Seller is not required to agree to them.
The Buyer may just accept the results of the home inspection and continue with the purchase without additional negotiating.
Home Inspections, Part 2
Home inspections may reveal needed repairs or questionable situations, and allow the Buyer to request those repairs or a price reduction.
Although the Buyer may request repairs or reductions after the home inspection, the Seller is not required to agree to them.
The Buyer may just accept the results of the home inspection and continue with the purchase without additional negotiating.
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FQA's
BUYERS
Do I need a home inspection?
Need? Not always. A new or nearly new home may not need an inspection. It is always recommended that an older home be inspected.
What is a home inspection?
A home inspection is carried out by an objective third party to establish the condition of a property during a real estate transaction. An inspector will report on such things as a home’s heating system, the stability of the foundation, and the condition of the roof. The inspection is meant to identify major issues that might affect the value of the home and the stability of your and your lender’s investment and return.
What is a pre-approval letter?
Documentation from your mortgage lender showing how much money you have been approved to borrow and what type of loan program you have been approved for. This means a lender has checked your credit, verified your information, and approved you for up to a specific loan amount for a period of up to 90 days.
SELLERS
Do I need a home inspection?
Need? Not always. A new or nearly new home may not need an inspection. It is always recommended that an older home be inspected.
What is a home inspection?
A home inspection is carried out by an objective third party to establish the condition of a property during a real estate transaction. An inspector will report on such things as a home’s heating system, the stability of the foundation, and the condition of the roof. The inspection is meant to identify major issues that might affect the value of the home and the stability of your and your lender’s investment and return.
What is a pre-approval letter?
Documentation from your mortgage lender showing how much money you have been approved to borrow and what type of loan program you have been approved for. This means a lender has checked your credit, verified your information, and approved you for up to a specific loan amount for a period of up to 90 days.
GENERAL QUESTIONS
Do I need a home inspection?
Need? Not always. A new or nearly new home may not need an inspection. It is always recommended that an older home be inspected.
What is a home inspection?
A home inspection is carried out by an objective third party to establish the condition of a property during a real estate transaction. An inspector will report on such things as a home’s heating system, the stability of the foundation, and the condition of the roof. The inspection is meant to identify major issues that might affect the value of the home and the stability of your and your lender’s investment and return.
What is a pre-approval letter?
Documentation from your mortgage lender showing how much money you have been approved to borrow and what type of loan program you have been approved for. This means a lender has checked your credit, verified your information, and approved you for up to a specific loan amount for a period of up to 90 days.