Knowledge_Is_Important_When_Buying_A_Home

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					Title:
Knowledge Is Important When Buying A Home

Word Count:
411

Summary:
When you are spending hundreds of thousands of dollars for a home, you
need to make sure that what you are getting is well worth it.


Keywords:
real estate


Article Body:
When you are spending hundreds of thousands of dollars for a home, you
need to make sure that what you are getting is well worth it.

No home is absolutely perfect. You can always expect to have to spend
something on your new home. The average is $6,000 within the first six
months, according to industry experts. In a time when you should be
looking at paint samples and new furniture, why would you want to spend
your time on repairing what you just bought?

A professional home inspection is key to truly understanding the home you
are purchasing. You want to turn to a reliable inspector that is a member
of an association that establishes strict requirements for membership,
such as the American Society of Home Inspectors and the National
Association of Home Inspectors.

The inspector should provide you with a list of what the inspection will
result in. For example, some inspectors will not inspect for termites or
termite damage, indoor air quality or the potential of mold to cause
illness. The inspector should remind you that the inspection report is
not a guarantee. The inspector is not liable for any repairs as a result
of his or her performance.

But even though you hire an inspector, you are still responsible for
doing a little investigating yourself. For example, even if your lender
doesn't require it, hire a termite inspector. But have the inspector look
for all pests. Termites aren't the only pests that cause damage. So do
carpenter bees, rats, squirrels and scorpions.

You may have received a disclosure form with the signed contract for
purchase. Many states require that the seller fill out this disclosure.
But don't let yourself rely only on this report. Many issues are
forgotten about or not considered major by the owner. Yes, the basement
got wet twice in the last ten years, but they could forget about it or
not consider it a problem.

Disclosure issues usually arise because buyers expect the disclosure to
hold more power than it really does. Make sure that your inspector has a
copy of the disclosure and will look at any issues brought up by the
seller.

When it comes to buying a home, you need to know everything you can about
the home, neighborhood, market conditions and mortgage options. Your
knowledge will give you an added negotiating tool when dealing with
agents, lenders and sellers. Make sure that you have a full understanding
of each step.

				
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