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The Facts (and Myths) on Home Inspections

August 20th, 2017 6:49 AM by Jackie A. Graves, President

Home inspections give you the opportunity to thoroughly inspect the home with a professional before you spend your hard–earned money to buy it. Because home inspections are such an important part of your homebuying journey, it's important to separate the facts from the myths.

Fact or Myth?

I can't choose my own inspector.

Myth: Spending the fees for a home inspection can be well worth it both for peace of mind and the potential cost of trouble avoided. You can choose your own inspector to help you with these. 

Finding the right home inspector takes a bit of research.

Fact: Doing your due diligence to find the right home inspector is vital. Your real estate agent should be able to recommend several well–qualified home inspectors. In addition, you can ask friends and family for recommendations. One you've got a list, the National Association of Realtors recommends you look at five areas when choosing the right one: qualifications, sample reports, references, memberships, and errors and omissions insurance.

Every issue on the inspector's report must be addressed before I can buy.

Myth: Inspections are one of the most common contingencies in purchase agreements. It's recommended that you make the home purchase contingent on the home inspection in your written offer so that if major issues are noted in the inspection report, you can renegotiate the sales price, require the seller to make the repairs, or back out of the offer altogether. Your realtor can advise you on how to negotiate these major issues in the purchase contract and advise you on how to handle any smaller issues noted in the inspection report.

Want some more facts? Check out what to expect from your home inspection.

Courtesy of Freddie Mac - To view the original article click here

Posted by Jackie A. Graves, President on August 20th, 2017 6:49 AM

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