Protect your interests before you buy and call Pro-Tek!

Depending on the type of financing you choose, there should be either 2 or 3 separate inspections on the home you want to purchase. The first should be your own basic inspection and the second should be a professional whole-house inspection. Should you select a government loan (FHA or VA), the third inspection should come at the time of the appraisal, which to some degree amounts to a "mini-inspection." Do not, however, rely on this appraisal as your only inspection of the property!

We cannot emphasize enough the value and necessity of an extensive home inspection. Many home purchasers, either in the desire to save the additional money that a good inspection costs, or due to simple ignorance, have spent enormous sums of money repairing items that any good home inspector would have pointed out. Any offer to purchase you make should be contingent upon (subject to) a whole house inspection with a satisfactory report. Do not let anyone--not the agent, not your family or friends, and especially not the seller--dissuade you from having the property thoroughly inspected! Not only will you sleep much sounder after you have moved into the house, a professional inspection can give you an escape hatch from a contract on a defective house. If the contract is written contingent on an acceptable inspection, any defects in the home must be either repaired or monetarily compensated for. If you are not satisfied, you have the option to cancel the contract.

Inspections are designed to disclose defects in the property that could materially affect its safety, livability, or resale value. They are not designed to disclose cosmetic deficiencies (for example, an interior wall that needs paint touch up). You will need to determine on your own those type of items that will need attention: don't expect a whole house inspection to reveal them to you.

Don't wait until you have placed an offer on a house before you begin the search for a home inspector. There will be a time limit in the contract designating when the inspection must be completed (typically between 7 and 14 days). If you start trying to find an inspector at that point, and cannot find an acceptable one to schedule it in that time frame, you will only have two choices: go with an inspector that is not your first choice, or run the risk of running past the deadline for the inspection (which could void any chance having the seller take care of repairs). Neither is an acceptable alternative!

Call Pro-Tek Inspections today to learn more about setting up your home inspection. Trust your investment to the professionals at Pro-Tek!

269.353.9000 or 1.800.342.0055

 

HELPFUL INFORMATION FOR BUYERS

Tips on Finding the Right House
Get your financial house in order first! We can't stress this enough--it will save you an enormous amount of time, aggravation and heartache.

Determine what your budget will comfortably allow and stick to it. Don't spend yourself into a "house poor" situation.

Get preapproved for a mortgage. This will not only give you a clear idea of how much a lender will approve for you, it will make your homebuying process a great deal easier (and save a lot of time later).

Get familiar with the different housing types available to narrow your search.

Determine your minimum requirements as well as any desired additional features--your needs and wants.

Take note of any items that you don't want in a house.

Determine the desired location (schools, work, public transportation, etc.)

Familiarize yourself with the mortgage process.

Choose an Agent that you feel comfortable with and who understands your needs. Be completely aware of the Agency issue. If you look for houses before you have your own Agent, you may not have the representation you want.

If you don't already have an Agent screening homes for you, you can check listings and prices online at www.realtor.com or www.swmric.com.

Use all resources available in looking for homes: friends, relatives, a good real estate agent, advertisements.

As you are looking, use a scorecard to compare homes. A scorecard is a great tool when it comes time for comparisons (and for remembering which home had which features!)

Get familiar with the inspection process--especially the personal inspection aspect, so that you can weed out unacceptable houses quickly

Maintain your perspective--and your cool! You may find an acceptable house on the first day--or the tenth. The important thing is to get the home that is best for you!


Top 10 Home Buyers Mistakes

1: Never buy the first home. Look at several homes before making a buying decision. Many first-time buyers purchase a home because it is such an improvement over a renting situation.

2: Choosing the wrong mortgage. Be sure to sit down with your mortgage agent to get all the specifics on the mortgage you are considering. There are many alternatives to the 30-year loan. Choose the one which best suits your needs.

3: Failure to increase insurance coverage. Keep yourself aware of the changes in your home's value. As your home increases in value, your old insurance policy may not adequately protect your investment.

4: Looking at homes you can't afford. Before you start shopping, take time to consider how large a payment you can afford. Pre-qualify if possible. This also prevents delay in closing. Exceeding your budget. After selecting a home, review all your figures. Don't forget to account for other home costs such as utilities, insurance, and property taxes. Your agent should be able to help estimate these costs.

5: Buying a home that won't sell. Many first time buyers sell their home in just a few years. Carefully consider all the negatives. Get a neutral opinion from a friend or relative who is familiar with the area.

6: Poor planning. If you are currently renting or leasing, be sure to check for an early release clause. Often times a landlord will subject a tenant to financial penalties, for leaving a lease prematurely.

7: Don't be indecisive. Take all the time you need to make a sound home buying decision, but don't be afraid to commit to a new home purchase. "Cold feet " are natural, but don't miss out on your dream home.

8: Buying the wrong sized home. View your home purchase in the long term. Consider lifestyle changes and family dynamics when choosing your home. Are a home based business or kids in your future plans?

9: Buying a home in an unfamiliar area. Research the area around you. Look for stability in a neighborhood. Investigate area schools and zoning. Be especially careful when buying in undeveloped or new areas.

10: Failure to have the property professionally inspected for structural, mechanical, safety, and environmental defects.

RETURN TO HELPFUL INFORMATION FOR BUYERS