Time-Saving House Hunting Tips

What is the importance of the Appraisal?

The appraisal is an independent assessment of the home's value that assures the lender that the home is worth as much as you're borrowing and spending to purchase it. The appraisal is very important because it is also one of the contingencies of your loan. If the property does not appraise for the offered purchase price then the loan may not be approved. Ask your Agent for more details regarding this situation.

What home repairs can I expect to happen prior to closing?

At a home inspection, it is the goal of the home inspector is to make sure you are aware of as many issues with the home as possible that may need repair now or in the future. The home inspector is working for you. Also, keep in mind that it is the job of the inspector to point out anything and everything he or she sees that may or may not need attention of the home in its current state.

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The inspector will send you a full, detailed report with photos. You can review this report with your inspector and your Real Estate Agent to identify the repair items that you deem most important. The inspection report is usually not a complete “to do list” for the seller.

It is provided so you can be well-informed about the current condition of the home and alert the seller of any defects needing repair before you buy. It is not going to address any cosmetic changes you may want to make. If there are any cosmetic issues like paint color, appliance changes, etc. – those should be addressed upfront in your purchase offer. Ask your Agent if you would like to know more.

Want more homebuying advice? Nestiny is a great place for homebuyer education and to help you gauge how ready you are to buy a home. Journey Homeward allows you to enter all of your wants and needs while the True Affordability Tool will break down your budget, showing what you can comfortably afford. You will also receive a free Ready Report that is personalized based upon the information that you entered. This report will give you a vital head start in the home buying journey, saving you valuable time and money.

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By signing up, you agree to Nestiny terms of use .
Are you a real estate professional? Go here .