What to Expect at a Home Inspection

Related imageAt your home inspection you can expect to spend about ninety minutes to two hours, depending on the size and condition of the home. You may want to bring something to do! Your inspector will climb into the crawlspace, roof, attic, and checking every outlet for polarity and function. Home inspections are thorough and can seem tedious, but of course that is what you want! Your inspector will provide a full report with photos, as well as categories for anything he/she finds within 24 hours or less.

A home inspection is paid for at the time it is completed. The average home inspection costs $250-$550 depending on the extra options. For example, you can get a termite test if the home is on a crawl or had wood siding. You can add a Radon Gas test if the home has a basement.

Here are a few things that are important to ask at your home inspection and pay attention to while you are there:

  1. Ask where the main water shut off valve is, and gas (if applicable). You’ll want to be able to find this in a hurry if you ever have a leak.
  2. Make sure your inspector opens all the windows.
  3. Ask your inspector to peak into the dishwasher to be sure it drained all the water out once the cycle finishes.
  4. Peak under the rugs, and at the walls behind sofas and large bed frames. Do not move any furniture, but use your phone flash light to make sure there are no hidden holes in the walls, or damaged flooring under rugs.

I recommend bringing something to take notes on, wearing comfortable shoes appropriate for the weather, and bring a book for the down-time while your inspector is in places you may not want to follow him to. Remember, your home inspection is meant to find every possible little flaw in a home. Do not let a lengthy inspection report intimidate you. Many items that are flagged on a home inspection are minor issues or general maintenance.

As always, I am here to answer questions and concerns before, after and during your inspection process. Once we get the report, we will review it together and define which items (if any) are major defects and which are not.

Happy Inspecting!

Posted on November 17, 2018 at 3:57 am
Cook Realty and Associates | Posted in Uncategorized | Tagged

I Want to Buy a Home, Now What?

So, you have reached the decision to tackle home ownership and tackle it you shall! Here is a step by step guide of how to go about beginning the process of owning your first home.

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  1. Check your bank account – If you do not have the money to purchase a home in cash, you will need to get a mortgage.
  2. Decide what you are comfortable paying for your monthly mortgage payment.
  3. You will need roughly 3.5% down-payment and roughly 2% of the purchase price for closing costs. (example, $200,000 home, you would need about $11,000 cash to close). Now, you can ask the Seller’s to pay for some or all of closing costs. Although in a tough market where multiple offers are common, this does not increase your chances of winning in that situation. I will walk you through different scenarios and help you decide the best course of action.
  4. So you have the cash to close, how is your credit score? Typically lenders want to see 640+ and the higher your score, the better your interest rate will be.
  5. Time to call a lender. If you do not know a mortgage lender, ask your Realtor for a few recommendations, or check out our resources page HERE.
  6. Remember the number you decided you were comfortable paying monthly? Discuss that with your lender and ask them what price range you should be looking in to hit that monthly payment.
  7. Now lets see some houses! Contact us to discuss your budget and must have’s list. We will email you homes that meet your criteria from our Mibor database. You can also search on Zillow/Trulia/Realtor and send me any addresses you are interested in.
  8. I will arrange showings and prepare a market analysis on the homes that you decide to pursue further.
  9. Once we find your home, I will walk you through the Purchase Agreement. There are many things that go into a Purchase Agreement other than just the price – but never fear, your Realtor is here! I will answer your questions and explain all the legal text so you feel confident and fully informed.
  10. After tenaciously negotiating to get you your dream home, you will be under contract! Hooray!

Once your Purchase Agreement is accepted/under contract, we will walk you through the next steps.

Read about what to expect after acceptance in the next blog, Accepted Offer to Closing Table.

Posted on November 17, 2018 at 3:29 am
Cook Realty and Associates | Posted in Uncategorized |