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Home Purchases
Home Purchase
Advice
-Home Purchase Guide
-Ensuring
a Fast Purchase
-Pre-Application
Preparation
-Buy, Don't Rent!
-Spouse Have Bad Credit?
-Effects
of Credit Card Debit
-Student Home Loans
-Mortgage
Mistakes
-Fair Market Value
-Buyer's Market or Seller's?
-Pre-Offer
Question
to Ask
-Making an Offer
-Putting
No Money Down
-Home Inspections
-Home Warranties
-Escrow
Accounts
Home
Construction Info
Buying a Vacation Home
Refinancing
Home Equity Loans
Mortgages
Auto Loans
Personal Loans
Debt Consolidation
Credit Reports
Credit Cards
Home
-Taxes
-Managing Money
-Credit Help
-Checking Accounts
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HOME INSPECTIONS
Educating yourself about the different types of home
inspections is a crucial part of the home buying
process. The various inspections are all different, and
sellers are not obligated to pay all repairs.
Termite Inspections
Any home that is being purchased with a mortgage is
going to require a certification that the premises are
clear of termites. This type of certificate is typically
issued by a pest control company like
Terminix. This is the only type
of inspection that is required by a mortgage company
when
buying a home. The intent of the inspection is to
locate any damage done by termites. If termite damage is
found, a termite inspector will obtain estimates for
repair and have the work done by a sub-contractor.
Normally, the seller is obligated to pay for the repairs
needed to the home as a result of termite damage.
Roof Inspections
Having the roof of a new home purchase inspected is
important because buying a home with roof damage will
result in you having to pay a great deal of money out of
pocket. If there is roof damage, you will need to
renegotiate the asking price of the home. Or you may
have to walk away from the deal if the seller is not
willing to negotiate or pay for the roof damage.
Professional Home Inspections
A profession home inspection can discover issues
that the other inspection types will not find. At the
conclusion of their job, it is common for the home
inspection company to offer you a
home warranty. A home
warranty will cover any issues that arise after the sale
of the house. Be aware that these warranties do not
cover everything. You will get what you pay for.
Meaning, the more expensive a home warranty is, the more
protection you will have.
In conclusion, a home inspection is very crucial part
when buying a home. Being educated about this topic is
smart because it will not only help you avoid making
mistakes, but you will also save money when buying your
new home!
Evaluating the Costs of Homeownership
Understanding the Housing Market
Determining
What Fair Market Value Is
Calculating Mortgage Payments
Determining if Your Salary is Enough for the Loan You Want
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