Buying a home is a major step, and often the most significant purchase you will make. When making your final decision, it is important that you are aware of the following:
Failed home inspection
You’ve looked at the house several times. On the surface, everything looks good, so you’re ready to buy. However, the home inspection professional you hired doesn’t agree. Significant problems such as unstable foundations or roofs will require a comparatively large output of labor and expense. In such a situation, discuss with your real estate agent what options are available.
Before you place an offer on a house, make sure you’ve looked at all the costs involved including fees for closing costs(LINK TO ARTICLE “Will YOU NEED TO PAY FOR ANY ADDITIONAL COSTS) and your mortgage down payment. Depending on the price of the home you want to buy, these costs can be significant.
Problems discovered at the final walk through
Similar to the home inspection, your final walk through as a buyer may reveal something unexpected. Maybe there was a throw rug placed over a hole in the floor or an appliance that doesn’t work. The final walk through is the last stop before purchase and if issues arise, discuss with your real estate agent what options are available.
The information in this article is general only; it is not intended as specific investment, financial, accounting, legal or tax advice for any individual.