FHA Loans May Have Repair Requirements
If you buy a home, you should hire a professional home inspector help you to make sure there are no problems with the home. If you apply for a loan with a bank, the bank will send out a bank appraiser to appraise the home -- that is make sure that the home is standing and that the home has a high…
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Mar 4, 2010
Seller Disclosure and Septic System Problems
If you are buying a home, you might read over the listing sheet, but you should also review any seller disclosure form given to you.
Most states have seller disclosure laws that require sellers to disclose to a buyer any major or material defect in a home. In addition to the seller disclosure form…
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Nov 25, 2009
Ilyce Glink Show Notes - November 22, 2009
Hard to believe it's Thanksgiving Week. I'll be filling in for Clark Howard Wednesday, Friday and next Monday. On today's Ilyce Glink show, we looked at the stock market pullback this week, the housing and unemployment numbers, Ilyce's Turkey Recipe, 401(k)s and Roth 401(k)s, Ilyce's refinancing…
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Nov 22, 2009
Home Buying Risks, Pitfalls and Tips For New Construction Homes Part 2
Home buying has risks associated with it, particularly the purchase of a new construction home in a new development. There are pitfall all along the way. What should you do to protect yourself? How do you handle the uncertainty of buying a new construction home in a new development? One reader…
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Oct 1, 2009
Home Buying Risks, Pitfalls and Tips For New Construction Homes
Home buying has risks associated with it, particularly the purchase of a new construction home in a new development. There are pitfall all along the way. What should you do to protect yourself? How do you handle the uncertainty of buying a new construction home in a new development? One reader…
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Sep 23, 2009
Seller Disclosure: Lawsuit May Not be Worth Time and Effort To Fix Problem
Seller disclosure is required in most states, meaning a seller has to reveal any defects or problems with the house to a buyer. However, the seller disclosure laws and requirements vary greatly from state to state. If a buyer discovers problems with the home that they think were not revealed through…
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Aug 20, 2009
Earnest Money and Seller Disclosure: Contract Must Be Signed To Be Valid
If you put down earnest money or a down payment on a home and you have a seller disclosure issue, you better make sure you have a way to get out of the contract. If the seller disclosure form failed to disclose mold in a home, and you signed a contract to buy the home, you should have the right to…
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Aug 20, 2009
Seller Disclosure Laws and Home Inspections
Seller disclosure laws have developed to assist buyers in their home buying quest and to keep seller's honest. Seller disclosure laws require a seller to disclose to the buyers all know material defects in the home. A seller is not required to disclose everything about a home, just material problems…
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Aug 20, 2009
Hire a Home Inspector to Identify a Former Meth house Before You Buy
Is the home you plan to buy a former meth house? It's hard to spot homes that have been used as a methamphetamine lab (meth lab or meth house as they are they are called). But there are some tangible signs of a former meth house that you can watch out for as you tour a prospective home. This story…
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Jul 23, 2009
Hire A Home Inspector To Assist With a Masonite Siding and Wood Rot Problem
A homeowner's supporting wood structure is rotting. He discovered the problem when replacing decayed Masonite siding, and wonders whether he has any recourse with the seller for not informing him about the problem. He might want to hire a home inspector now to determine the source of his problem and…
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Jul 16, 2009
Home Inspection Reimbursement For Inadequate Seller Disclosure
When you're buying a home it's up to you as the buyer to search the address in public records. While seller disclosure does include material defects, it doesn't necessarily include crime disclosure. If you pay for a home inspection and later decide to cancel your home buying contract can you get…
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Apr 3, 2009
Fixing Home Inspection Issues When Home Buying
When you're buying a home, a home inspector will go over the property with you to point out any issues that may require home repair. It's a good idea to walk around with the home inspector during a home inspection because he may make comments that won't appear on the final report. After you know the…
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Mar 20, 2009
How To Buy The House You're Renting
If you're interested in purchasing the home you're renting, the first step is to determine if the landlord is willing to sell it to you, and for how much. It's a good idea to spend some time with a real estate agent to come up with a fair purchase price for the rented home. It's also still smart to…
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Mar 17, 2009
Seller Disclosure: Buyer's New Home Has Broken Furnace
What is required under seller disclosure? A few months after buying a home, the new homeowners realize they need a new furnace. but seller disclosure didn't indicate that there was anything wrong with the furnace. Ilyce asks if the homeowners had a home inspection prior to closing, and takes them…
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Feb 28, 2009
Home Inspection Problems May Lead To Seller Disclosure Lawsuit
When you're buying a home you should have at least one home inspection that includes a look at the septic system. What's found during that home inspection including the septic system depends on the caliber of home inspector you hire. If you discover problems with your septic system after the home…
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Feb 26, 2009
Reputable Home Inspector More Accurate Than City Building Inspector
When building a new home, hire a private, professional home inspector to make sure your new construction is up to building codes. City inspectors don't have the time that a professional home inspector has to make sure your new home meets all the building codes. If you don't use a reputable…
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Feb 24, 2009
Before Closing Walk Through And Write A Punch List
When you buy a new home you should walk through it before closing. As you walk through your new construction home you can write down anything that you think the builder needs to fix. If there's something significant such as landscaping, you can hold back some money in escrow until the developer…
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Feb 17, 2009
Home Inspector Influences Buyer's Home Purchase Decision
Can home buyers rely on a home inspector and a real estate agent to help a home buyer? Real estate agents and home inspectors work for the seller usually and rely on referrals for business. Home inspectors try to balance the needs of the real estate agent selling the property on behalf of the home…
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Jan 19, 2009
Buying A Home For Less Due To Radon
When you're looking at homes to buy you may find that some have radon in the basement. Should you buy a house with a radon problem? It may be OK to buy a home with a radon problem so long as it has been corrected. But when you go to sell a home with a radon problem you need to mention it as part of…
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Jan 19, 2009
Wait As Long As Possible To Lock In Interest Rate
To get the best interest rate when closing on a home purchase, wait until the last possible minute to lock into a rate. It might also be wise (and cheaper!) to consider an adjustable rate mortgage instead of a fixed rate mortgage.
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Jan 19, 2009
Building A New Construction Home? Get An Independent Home Inspector
An owner of a new construction home is wondering if they need an independent inspector. Ilyce's answer is yes, you should have your new construction home inspected by an independent home inspector at various points during the construction. You should make the builder aware that you are going to do…
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Jan 19, 2009
Home Inspector Gives Home Buyers Peace Of Mind
Home inspections by a professional home inspector can save you tons of money and aggravation. If you value peace of mind, it's the home inspectors who will give it to you. Every home buyer should have a home inspector inspect the new home at least once prior to closing.
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Jan 19, 2009
Without Inspection Contingency, Buyer May Be Responsible For Problems
It's important to read contracts carefully when buying a home, including what the contract says about home inspections. With an inspection contingency, you may be required to buy a home even if an inspector says the entire foundation must be replaced. Having an inspection contingency can make sure…
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Jan 19, 2009
Home Inspection Will Alert Buyer To Problems
A home buyer notices problems with his new home and suggests the seller didn't properly disclose them. A home inspection would uncover problems not disclosed by the seller. The seller disclosure form will show what the sellers identified as potential problems for the home buyer.
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Jan 19, 2009
Professional Home Inspectors Save Home Buyers Future Grief
Home buyers should spend the money and hire a professional home inspector before buying a home. A professional home inspector have a better chance of finding flaws that the seller may omit on a seller disclosure form, leaving the home buyer with additional expenses in the future. Home buyers who…
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Posted on:
Jan 19, 2009