Home Inspections, Who Should Attend?

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Home Inspections, Who Should Attend?

 

The home inspection is an essential step of the home purchase process. There can be concerns about the home inspection and why one is needed.

Buyers generally spend very little time during the walk-through of a home showing. They may be on a schedule to see several homes and have deadlines to meet. This may limit the time they spend inspecting houses.

Fortunately, the home inspector's role is to examine the house thoroughly. They will typically spend several hours inspecting the home. Once the inspection is complete, the home inspector will create a report of their findings.

The home buyer and real estate agent should be present at the home inspection. It’s the best opportunity for the buyer to learn about the home. It’s also an excellent educational experience for the agent. You will be called upon to help negotiate the repair of significant issues. Everyone should be aware of any deal-breaker problems if and when they arise.

Things to watch out for:

Roof

The roof can be an expensive repair with the potential to lead to a lot of damage. Most roofs last about 30 years. It’s important to know the installation date of the current roof. The home inspector will check the condition of the shingles and look for water damage.

Plumbing

The home inspector will look for obvious problems and hidden concerns, such as plumbing violations. They will also search for signs of mold and mildew from leaky pipes.

Electrical

Depending on the age of the house, the electrical concerns may differ. With fewer outlets, older homes may have issues with wiring, which can be a fire risk. The home inspector will check the wiring for signs of damage and deterioration.

Foundation

Ensuring that the foundation of the home is in good shape is essential. Over time, the foundation can settle. This may lead to doors and windows not closing correctly and unlevel floors. Water in the basement or crawl space can be caused by poor grading of the soil near the house. The ground should be sloped away from the house to prevent water pooling near the home. Issues with the foundation are the most common problem found during home inspections.

Attending the home inspection with the buyer will benefit you, the agent, in many ways. You will add to your knowledge base about houses. And you will be able to assist the buyer with negotiations to help close the sale. When the buyer is present at the home inspection, they will be able to ask questions and learn about their new home.

Home Buying Mistakes

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Home Buying Mistakes

Buying a new home is an exciting adventure! Especially if you’re a first-time home buyer. It’s a good idea to keep the following tips in mind when preparing for that purchase. They may help you make the best decision and avoid home buying mistakes.

Keep an Eye on Your Finances

Plan to have cash on hand for your down payment and closing costs. These costs can include title and homeowner’s insurance, taxes, and deposits for service providers. These costs are not included in the home's purchase price and may be an unexpected surprise.

 

Look at All Loan Options

Many home loan options are available now. Special programs are available for first-time home buyers. The Veterans Administration has a loan program that you may qualify for. These loans offer little to no down payment options. Some states offer grants to help fund the down payment of a home purchase for qualified first-time home buyers. Looking around to find your best mortgage option is worth the effort.

 

Know What You Can Afford

Take a close look at your income and expenses. You’ll need a good idea of what you can afford to spend before you start your search for a mortgage. Don’t forget to include small expenses like dining out, pet care, or car maintenance. Small expenses can add up quickly. Once you have a good picture of your budget, you’ll be able to work with your lender to find the right mortgage for you.

 

Avoid Big Purchases Until Your Mortgage is Final

Avoid making big purchases that require financing while working with your lender to obtain a mortgage. Purchases using credit cards or store financing will impact your credit score. Your lender will take into account changes to your credit score when considering your mortgage terms. Wait until your mortgage is final before making large purchases.

 

Prepare for Future Expenses

After you move into your new home, you’ll find updates you’d like to make. It’s a good idea to have money set aside for those improvements. It will also be helpful to have savings if an unexpected repair needs to be addressed. Don’t let the excitement about your new home purchase cloud your financial decisions.

Buying a home is an exciting adventure!

You’ll learn many things along the way. Don’t hesitate to reach out to experienced professionals with your questions. They will be able to offer advice to ensure that your home purchase is successful and to avoid mistakes along the way.

Protect Yourself From Scammers!

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Digital financial transactions are a convenient way to pay for things like bills or to send money to family and friends. Online shopping is another type of digital transaction. And we can add gift cards, cryptocurrency, wire transfers, and third-party payment apps to the list.

Digital financial transactions are rising, and so are the scams involved with this technology.

Let’s look at two common scams and what you can do to protect yourself.

 

Access to remote devices.

Scammers may contact you pretending to be support staff from companies you do business with online. They may claim that they noticed a problem with your account that they want to fix. They may also claim that you need to update your device. It’s very unlikely that these companies would reach out to you to offer that help. Be cautious about providing any information about yourself. Also, be careful about downloading any apps they may send you. Protecting your technology is protecting your identity.

 

Utility scams.

Scammers may also pretend to be utility workers or cell service providers. They may contact you and demand money to pay for an outstanding bill. They may threaten to discontinue service if you do not pay immediately. Generally, these companies will send notices for late payment through the mail or email. You will receive several notices before the discontinuation of service notice is sent. They will also offer payment options such as using a check or credit card. When in doubt, call the utility company to verify the standing of your account.

 

Remember this, if it seems suspicious, trust your intuition. Don’t provide payment or personal information over the phone to anyone that calls you. Call the company that reached out to you to confirm your account status. You will save money and avoid frustration by following these steps!