Getting
a Home Inspection
If
you are in the process of purchasing a new home, it will definitely be
in your best interest to have a home
inspection done.
Not
only will you want to have a home inspection done for your own sake, and
peace of mind. But most lenders
will require that you have a home inspection before they will proceed
with the loan.
The lending
institution has just as much interest in the home as you do, so that
is why they require a home inspection.
Getting
a home inspection requires hiring a company to send out a home
inspector to go through the home you are going to purchase. With you
present, the home inspector goes through the home, and thoroughly inspects
to make sure nothing in is need of major repair that cannot be seen with
the naked eye.
Basically,
a home inspector goes through a home and checks wiring,
fixtures,
plumbing,
and the foundation
of the home to make sure it is structurally sound. He will also inspect
the outside of the home along with the roof to make sure there isn’t
any exterior
damage.
Along
with the home inspection, it would also be in your best interest to inspect
for wood
boring insects, such as termites
and beetles.
A
pest inspection is also required by the lender before they proceed with
a loan.
A
pest
inspection is done separately from the home inspection and is done
through a different company that specializes in pest inspections.
Not
only are home and pest inspections required by the lending institutions,
but it would be in your best interest even if they were not. They cost
anywhere from $300.00 to $400.00 depending on the size of the home, and
you are aloud to be present and ask questions through the entire inspection.
Imagine
if you found your dream home and loved it so much that you purchased it
without having the home inspection done. On the day that you and your
family move in, it is the happiest day of your lives. Than, three days
after you move in, you get your first rain fall while in your new house.
Than, the next thing you know, you have rain coming through the ceilings
up stairs.
After
something like this, you’ll be wishing you had the home inspected.
Trust me.
Believe
me, this stuff happens. So be smart, and get a home inspection. It beats
paying $15,000.00 to $20,000.00 for a new roof.
In
addition, once you have a home inspection done, you will have peace of
mind that the house is sound and in good living condition. However, should
anything happen to go wrong after you move in that was covered under your
home inspection, you will have the home inspection company to hold accountable
for the damage, and not have to pay it out of your own pocket.
To
summarize, the home inspection is very important to both you and the lending
institution. You both have an interest in the property, so have the home
inspection done, you will sleep a lot easier.
Closing
Costs
Loan
To Value Ratio
Home
Inspection
Home
Maintenance
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