Category: Business

Originally published by homeinspector.org

What Buyers and Sellers Should Do When The Home Inspection is a Deal Breaker

Home inspections can be a big hurdle to clear and will worry many of the parties involved in the transaction until the due diligence period is over. A home inspection is an appraisal of the state of the house at the current time. House inspectors not only detect issues at homes but give buyers valuable information that can assist them with regular home maintenance. It is an educational process worth spending every minute with the inspector. When purchasing a home, the buyer will pick a professional home inspector to examine the house. The house inspection is a vital contingency, and it is fundamental that you don't skip it!Coming to visit the property is just 50% of a house inspector’s work requirements. After their site visit, they will give you an official house inspection report that sets out their findings in writing. Excellent home inspection reports will contain pictures that clearly identify any problems with the property. A house inspection can recognize issues in a house that trigger additional inspections. For example, a level two inspection of the chimney or an inspection by a roofer. Buyers and sellers should both have a complete understanding of how home inspections work. The article at Maximum Real Estate Exposure provides excellent tips and advice.  

Originally published by Realtor.com

by Robin Shreeves

So you're a first-time buyer who just closed the deal on your new home and moved in. Finally, you can breathe a deep sigh of relief. After all, you managed to pony up a down payment, closing costs, and other sundry expenses. Provided you make your monthly mortgage payments, you're fine and dandy on the finance front ... right?

Not quite. Because owning a home means you have to maintain it—and maintenance costs money to do right. Expenses that you may not have considered are bound to crop up after you've bought the house. Some are one-offs, but others will come back around regularly. Overlook them at your peril, since neglect may just lead to even bigger breakdowns that will cost you more down the road.

Want to know what lies ahead? (Hey, it's better than being blindsided.) Check out these hidden expenses that first-time buyers often overlook. 

Originally published by Realtor.com

by Karen Marsala

Home inspections are scary. Just when you swear you've found the house of your dreams, a home inspector comes along and tells you everything's that's wrong with it—which might lead you to think you should run for the hills!

But rest assured, most things turned up during a home inspection aren't deal breakers. Still, there are certain red flags that really should make you very, very afraid. So how can you tell? For starters, you should try to attend your home inspection to see firsthand how your inspector reacts as he checks out your house.

“If your inspector comes to an abrupt halt when entering a room, or their whole demeanor changes, it's possible they've just run across something very bad," says Welmoed Sisson, a Maryland home inspector from Inspections by Bob, and author of the book "101 Things You Don’t Want in Your Home."  

Originally published at Realtor.com

By Margaret Heidenry

Soon after making an offer on a home, buyers will receive a document called a seller disclosure. Read it carefully! This is not a piece of paperwork you want to slide by with a mere cursory glance.

A seller disclosure form is basically a list of everything the seller knows about the condition of his property.

"This allows potential buyers to understand exactly what they are getting," says Nicole Durosko of New York's Warburg Realty. All physical defects and issues affecting a property's value should be disclosed on the form.

But how do you know if the seller disclosure is complete—or if the sellers have something to hide? Here's what buyers need to know.