Should You Get a Home Inspection?

It's very important, and in my opinion, mandatory to have a home inspection done before you close on a house. The inspection helps with giving you an objective evaluation of any problems with the home before you move in.

Make sure you have a home inspection contingency in your contract before you sign it. You want to be able to back out of a contract if the inspection turns up any serious problems that the seller is not obligated to fix or that will be too costly for you to pay for on your own.

A home inspection report is a complex document that an inspector fills out while going over the house. The inspector will not catch everything that's wrong with a house, but they are very thorough and can catch any major problems.

The inspector reviews the house from the roof to the foundation. They review the condition of the home's heating and central air condition systems, interior plumbing, electrical systems, roof, foundation, basement, attic, walls, ceilings, floors, windows, doors, visible insulation and visible structure.

A home inspection usually costs between $200 to $400. This cost can be added to the closing cost or you can pay for it up front. It's up to you how you want to pay for it. Your real estate agent might offer to find a home inspector for you, but you should make the final decision on who will do the inspection.

Good home inspectors are very thorough and very detailed. Also, good home inspectors are licensed. Some states don't require licensing for home inspectors, but if you want to get the best out of an inspection, find a licensed inspector. Ask friends and family members who have had inspections done for recommendations.

Another great way to find a licensed inspector is at the American Society of Home Inspectors' (ASHI) website at http://www.ashi.org. Members of this organization must abide by standards and guideline practices and a code of ethics set forth by the national organization.

Another place to find licensed inspectors is at the National Association of Home Inspectors, Inc. (NAHI) website at http://www.nahi.org. They too have a standards of practice and code of ethics that inspectors must abide by. Both ASHI and NAHI allow you to search for home inspectors in your area.

Michelle Roebuck provides mortgage and home buying advice for people with bad credit at http://www.find-bad-credit-mortgage-loans.com Sign up for her newsletter at http://www.find-bad-credit-mort gage-loans.com/newsletter.html

Mortgage Refinancing Points to Consider
Corsavoo.com, France - 10 hours ago
Though it is probable to attain a no-cost refinance mortgage from a mortgage loan lender, remember that these lenders are out there, trying to earn a ...

Washington's Fannie And Freddie Plan: Why Now?
Forbes, NY - 15 hours ago
Any announcement would come just weeks before the two companies have to refinance $225 billion of mostly short-term notes. Fannie and Freddie sell debt to ...
Video: Obama Calls for Changes in Mortgage Giants AssociatedPress
US government to take over Fannie Mae, Freddie Mac Monsters and Critics.com
Government bail-out for US mortgage giants FannyMae and FreddyMac domain-B
Nolan Chart LLC - HULIQ (press release)all 2,106 news articles

Understanding Mortgage Refinance Rates
SheKnows.com, AZ - Sep 4, 2008
Mortgage refinance rates are the lowest rates, homeowners can get when trying to refinance their mortgages. Simple, isn’t it? Maybe so, but obtaining the ...

CNBC
Troubles spread to prime Md. mortgages
Baltimore Sun, United States - 22 hours ago
... interest-only mortgage with an adjustable rate. The rate kept rising until it was just too much, and he was told he couldn't refinance because the value ...
Report says 3.1 percent of Conn. mortgages overdue Newsday
Home loan troubles break records again The Associated Press
US Mortgage Foreclosures, Delinquencies Reach Highs (Update3) Bloomberg
Washington Timesall 679 news articles

Houston Chronicle
Baytown woman sues lenders, says she was a victim of predatory ...
Houston Chronicle, United States - Sep 4, 2008
Nanette Lewis refinanced her mortgage to get peace of mind. Instead, she says, she got a bait-and-switch, predatory loan and heartbreak. Now far less naive, ...

Bargaining for a better loan
Sarasota Herald-Tribune, FL - Sep 5, 2008
The potential bargaining power of borrowers is greatest on a refinance, because typically they have no time limit on when the money is needed. ...

Foreclosures, Overdue Mortgages Increase Again
Wall Street Journal - Sep 5, 2008
Lower prices, in turn, make it much harder for borrowers to refinance if they fall behind on their payments. The drop in values also means people have less ...

Mortgage Refinance Options to Think About
3x24 - Your Newspaper and News Magazine, Germany - Aug 26, 2008
Very few people in the world can afford to purchase a home in one payment so the world of mortgages and mortgage payments ‘came to be’. Mortgage refinance ...

What’s A Divorce Got to Do with Your Mortgage Refinance?
Corsavoo.com, France - Aug 25, 2008
When you’re the aggrieved partner, you silently wish that things will suddenly take a better turn, especially with an unpaid mortgage. Refinance plans have ...

The Truth About Mortgage Refinancing
Contacto Magazine, CA - Aug 25, 2008
It seems like everyone is jumping on the mortgage refinancing bandwagon. Maybe you're thinking about it yourself? After all, with rates as low as they are, ...

Wind Chimes and more...

Windchimes for great gifts!

Mortgage Glossary of Terms