What to look for in a home inspection: recognizing the deal breakers home inspections can help you dodge bullets While most home inspections go off without a hitch, no home is perfect. What you do with the results depends on the findings and how you structure your home purchase agreement.
Home inspectors will also look for dated types of electrical components such as knob and tube and aluminum wiring, neither of which is used in modern day construction. Aluminum wiring was mostly used during the 1960s or 1970s and it is usually one of the deal breakers.
What to look for in a home inspection: The possible dealbreakers. The issues below are ones that can often result in eye-watering repair bills. However, it’s important to recognize that each home is unique. To return to our medical analogy: something that sounds really bad and potentially expensive can turn out to be nothing or easily fixed.
7 big home-buying deal Breakers. Signs that you should run the other direction.. and you’ll have to deal with the sump pump. A home inspector should be able to identify the source of the water.
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Why Your Bank May Not Be Giving You the Best Mortgage Rate Rising Mortgage Rates Thorn in Otherwise Rosy Conditions for Home Buyers – Research Mortgage rates have risen 0.7 percentage points this year, and most experts expect that trend to continue. If rates increase to 5.5 percent, it would eliminate an additional 5.4 percent of currently for-sale homes from a typical household’s budget.I advise first time buyers to consider three banks – AIB for those opting to go for a variable rate mortgage, and KBC/Bank. best two or three rates for your situation, only then should you consider.
Identify your deal breakers in advance. Be there for your home inspection appointment. Find The Right Contractor. If you are working with a real estate agent, he or she should be able to help you find a licensed home inspector. If not, there are plenty of online resources that will reveal a list of professionals to work with in your area.
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Mortgage Rates Today, Friday, April 14 Mortgage rates today continued to fall for 30- and 15-year fixed loans, by 1 and 3 basis points, respectively. Meanwhile, 5/1 ARMs held steady, according to a NerdWallet survey of current mortgage.
A home inspection that turns up structural problems or drainage issues will add a significant amount to the buyer’s budget – even pushing them out of their price range. Source: "The 3 Most Common Reasons a Home Inspection Kills a Deal," Redfin Blog (Oct. 2, 2015)