Why do I need Inspections?

During the home buying process I’m often asked, “Why do I need inspections?” by my buyers. They continue their reasoning by saying, “The house looks fine and the seller’s disclosure didn’t reveal anything out of the ordinary. So why should I pay for inspections?”

I simply say, “That’s because inspections performed by a qualified professional may reveal things that even the home owner is unaware of. Sometimes these repairs can be costly and wouldn’t it be better to know sooner than later.”

There are five common hidden defects that your inspector should look for. They are

1.    Roof- The roof may be nearing the end of its life or have been damaged.

2.    Pest – The home may have termite damage or another type of pest infestation.

3.    Bad Foundation – This may be more than just dampness, cracks may be signs of a bigger problem.

4.    Water damage – can be from multiple sources, pipes, gutters, basement leakage to mention a few.

5.    House components itself:

a.    Inadequate or improper wiring components

b.    Inadequate or improper heating and cooling systems

c.    Inadequate or improper plumbing

Plus 1 – If the property is located in an area serviced by private roads, water or sewage, the buyer may wish to have each inspected to confirm these and or other items meet the current standards for the area where they are located.     

Repairs to any of these items can add up quickly. Buyers should protect themselves from this financial liability of unseen or unknown damage by obtaining inspections.

This is why I recommend inspections to my buyers!

Thinking of buying a home? Here are 12 “Don’ts” every buyer needs to know!

Thinking about buying real estate in today's market? Here are 12 Don'ts to keep in mind when looking for that new home or investment.

      1.    Don’t wait to shop for a home loan. Having a pre-approval letter will help you establish your price range and make your offer appear better to the sellers.

2.    Don’t buy until you shop and compare. This is very important if you’re moving into a new area.

3.    Don’t think you need to negotiate if the property has few days on the market and is priced at market value.  Well priced properties tend to sell quickly and for near or above the asking price.

4.    Don’t be afraid to offer what you think the property is worth to you.

5.    Don’t work with any one less than a full service agent. One that has access to lenders, title companies, inspectors etc. Look for value added services.

6.    Don’t wait for the perfect house for you. It doesn’t exist! Prioritize what is important to you in a home and search for the top priorities.

7.    Don’t wait for the perfect conditions to buy. The best time to buy is when you found a home that meets most of your priorities.

8.    Don’t write an unrealistic purchase offer. This will help another parties offer look more attractive to the Seller than yours.

9.    Don’t work with more than one agent.  Find one that listens to what you have to say, offers a Buyer’s Consultation and offers full service.

10.  Don’t think all real estate agents and companies are the same.  They are NOT. Find an real estate agent and company with a proven track record.

11.  Don’t get too many friends and family involved in your decision. The well meaning advice will make you CRAZY!

12. Don’t be surprised if you get buyer’s remorse at some time during the process. Most buyers do. It is normal and will pass. Think about moving into your new home instead

Are You RWA?

Are you RWA?

Thinking of buying in today's real estate market?  First step is to see if you're RWA. That is are you a Ready,Willing, and Able buyer?  Let’s find out if you are by considering these seven critical areas!

1.    Finances – are you financially qualified to buy a home in today’s market? Speak with your lender(s) of choice to find out.

2.    Authority – Is it your decision to buy a home? Are there others to have a say in the purchase of a home?  Who are they and what do they have to say?

3.    Commitment – Are you committed to doing what it takes to find the right home for you? This includes:

• Getting a pre-approved for a home loan
• Finding a professional real estate agent to help you search and guide you through the paperwork and deadlines.
• Driving by homes to eliminate them or put them on the top of your list.
• Keeping your team of professionals informed of your needs, wants and desires, so they can best help you.

4.    Competitive – Putting your best offer on the table first may help you beat out other offers and get the right house for you! Trying to get the deal of the century may cost you the house.

5.    Motivation – Why do you want to buy a home?  What would happen if you found the right house tomorrow? Are you ready to take advantage of it?

6.    Availability - When are you available to view a property in person? Viewing it online is nice, but nothing beats seeing the property in person.

7.    Compromise -  In reality the perfect home doesn’t exist, you’ll get about 80% of what you’re looking for in a home. Be ready to prioritize and compromise to get the right home for you! What are your priorities in the home you're looking for?  What items are you willing to give up?