Home Buyer- Get A Home Inspection Up Front

Well, you finally found the perfect home. You are filling out the purchase sales agreement. You figure you have enough for the earnest money deposit to be placed in escrow and the lender will want the appraisal fee up front. But now the realtor is advising getting a home inspection. That?s extra money. The home looks great. Besides, won?t the appraisal come up with any problems?

Buying a home is normally the single most expensive purchase you make. You want to make sure the condition of the home is what you expect. A licensed home inspector is an impartial party to the transaction. The inspector will evaluate the home as is. You will have a written report on the spot or within days.

Saying the obvious- it is important to read the report. It will give the condition of the structure. It will address the electrical, plumbing, heating and air conditioning. There will be a section on any evidence of infestation of pests and dry rot. There will be other sections. Pay particular attention to any items the inspector recommends be corrected. If there are areas, such as attic or enclosed area, that the inspector found inaccessible these should identified on the report.

You can find a qualified home inspector in the yellow pages, Internet or your realtor may have a list of several to choose from. The home inspector is working for you because you are paying for the work. The appraisal is done for the benefit of the lender to determine market value. By making the purchase of your home contingent on a satisfactory home inspection report you are protecting yourself from expensive repairs that should have been done by the seller before the home went on the market.

Bill Wehr has been in home loan origination for over 25 years. He is the owner of Great Pacific Northwest Mortgage http://www.billwehr.com, a residential mortgage company serving Oregon and Washington.

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