Special discount offer: Dog-Days of Summer $50 discount home inspections
To: FHA and VA Home Mortgage Seekers
Financing a new home purchase via FHA or VA is no doubt one of the biggest investments in one’s lifetime.
Now that you have escrow your earnest money and budgeted sufficient savings for your down payment and closing cost, and straight-away you must decide to spend money on a home inspection. This should be a no-brainer if Peace-of-Mind is what you seek on day 1 after you close and move into your new home.
After your offer to buy a home has been accepted, the process of near-endless check writing begins. There are many necessary costs, such as realtor and lawyer fees, and the total of these expenses may have you looking for ways to save money elsewhere. You may be tempted to skip the home inspection and its $350 to $550 cost.
There are 10 good reasons why you should get one.
1. A Home Inspection Provides an "A Way Out"
A quality home inspection can reveal critical information about the condition of a home and its systems. This makes the buyer aware of what repairs the home may require immediately after closing. If a buyer isn't comfortable with the findings of the home inspection, it usually presents one last opportunity to back out of the offer to buy and get your earnest money returned.
A home inspection can detect safety issues like open grounded electrical outlets, non GFCI outlets near water faucets, mold, termite infestation and wood damage, which all homes should be tested for. Make sure that your home-buying contract states that should such hazards be detected, you have the option to cancel the offer to buy.
3. Reveal Illegal Additions or Installations
A home inspection can reveal whether rooms, altered garages or basements were completed without a proper permit, or did not follow code, according to Robert Sabree licensed inspector at Sabreezz Home Inspection. "If a house has illegal room additions that are un-permitted, it affects the insurance, taxes, usability and most of all the overall value. In essence, a buyer is purchasing something that legally does not exist," he explains. Even new homes with systems that were not installed to code will become the new homeowners' financial "problem" to fix (and finance).
4. Home Buyer Protection
Home inspections are even more critical if you are buying an "as-is" foreclosed property or short sale. Dwellings that have been boarded often develop hazardous mold problems, which are costly to remedy and pose health concerns. It's common for home inspectors to find that copper plumbing lines and outdoor compressors have been removed from foreclosed properties by people trying to sell copper to recyclers for money.
5. Buyer Negotiating Tool
Most Realtor says the home inspection report presents an opportunity to ask for repairs and/or request a price reduction or credit from the seller. Work with your realtor to understand what requests can and should be made to negotiate a better deal.
6. Forecast Future Repair Costs
A home inspector can approximate the installation age of major systems in the home like plumbing, heating and cooling, and critical equipment like water heaters. They can diagnose the current condition of the structure itself, and tell you how long finishes have been in the home. All components in the home have a "shelf-life." Understanding when they require replacement can help you make important budgeting decisions, and it will determine what type of home warranty insurance coverage you should consider.
7. Determine Repair "Deal-Breakers"
Robert Sabree, approved FHA 203k Consultant suggests that some home inspections can help buyers identify how much additional money or effort they are willing and able to spend to take the home to a condition that is personally acceptable. If you are unwilling to repair issues like faulty gutters, cracked walls, or ceilings, perhaps you are not ready to end your home buying search.
8. Learn to Protect Your Investment
The home inspector is a valuable educational resource. They can suggest specific tips on how to maintain the home, and ultimately save you thousands of dollars in the long term.
9. Reveal the Home Big Picture
Sabreezz Home Inspection advises that people use home inspection to understand the nuances of what may be the biggest purchase they ever make. "People fall in love with a piece of property based on the color of the walls, the location of the home, or something else; they are completely blind to the issues that can make that dream home a nightmare," he says.
10. Property Insurance
Some insurance companies will not insure a home if certain conditions are found, or without the presence of certifications like Radon Mitigation and four-point inspections, according to Robert. "Qualified home inspectors can do these things at the same time as their other auxiliary services and save the home buyer time and money in the long run."
The Bottom Line
A thorough inspection is a critical step in purchasing a home.
It is your responsibility as the home buyer to understand as many details as you can about the property you may soon call home. Home inspections reveal the inner workings of the property.
At Sabreezz Home Inspection we offer the home buyer a thorough home inspection.
We have been doing home inspections for approximately 10 years
As we go through these Dog-Days of summer, we want to make it more affordable for FHA or VA home buyers by offering you a $50 discount on your home inspection to help you get into your new home and with Peace-of-Mind before school return.