Mortgage Process

Always Get a Home Inspection

A client was referred to me by her attorney as she was in the process of buying the family home froFirst Homem her mother’s estate. She had been caring for her mother, and after her passing, she and her 5 siblings agree that she would buy the home. The price had been agreed upon and the final piece was the mortgage. We met to begin the mortgage process. As it was her First Home, she had a lot of questions and so did I. As part of her “home buyer education,” I asked if she had a Home Inspection done?

Home InspectionShe felt that one wasn’t necessary since she had lived in the “homestead” all her life and was buying the house from her 5 brothers and sisters. I explained that it really was for her protection and peace of mind to know what might be the physical limitations of the old house. After some encouragement, she finally agreed that it was a good idea and I for a local inspector to meet with her to check out the house.

 A Home Inspection is a visual inspection condition of the structure and to identify components that aLostre not performing correctly or items that are unsafe. After seeing the results of her home inspection, my client wasn’t sure what to do as there were numerous issues. I gave her the name of a local home improvement contractor to get an estimate of what the repairs would be. The estimate she got was just over $10,000. OK, now what do we do? I suggested that she speak to her attorney and share a copy of the home inspection and estimate with the other 5 siblings.

Long sHappy New Hometory short the purchase price was reduced and we were able to move forward with the purchase. Everyone was happy,  

The moral of the story …  Always get a home inspection done by a licensed inspector, no matter who is the seller!

P.S. FHA does not require a home inspection unless the appraiser notes a glaring deficiency in the property. However, FHA requires the buyer to sign a document “For Your Protection: Get a Home Inspection” encouraging the buyer to be sure that the home they are buying is satisfactory in every respect.