Get Informed about Home Inspection- By: John Cutts
The Homebuyer Protection Plan has been previously approved by the US Department of Housing and Urban Development. Through this act, homebuyers who file applications for an FHA-insured mortgage need to make sure that their properties comply with the standards set by the FHA. This aims to protect home buyers from buying a house that is in poor condition.
This program also requires potential homebuyers to sign an informational form that explains how an appraisal is not a home inspection. This asks for the homebuyer to get a home inspection prior to closing a sale and purchasing a house.
This program strengthens the role of home inspectors in the sale and resale of homes. The condition of a house is now a major condition that not only involves a seller and a buyer, but also the government. Because of this, real estate agents now need to make sure that a house has been inspected by a certified home inspection company to make sure that the property meets the standards set by the government.
To determine if an insurance company is legal and is eligible to conduct home inspections, the sellers and sales associates should make sure that home inspectors have insurance that includes professional liability, general liability and workers’ compensation. A home inspection company should also be certified by a recognized certification and training program.
Through a home inspection, sellers can conduct repairs before a house is seen by a potential buyer. This increases the chances for a house to be bought. A home inspection can give both the buyer and the seller the peace of mind they need about the house. Getting a home inspection also eliminates the possibility of last-minute price negotiations. These happen when an unseen defect is found by the buyer. Going through renegotiations can be a waste of time, of money and effort for both the seller and the buyer.
A home inspection also increases the chances of a house to be bought. Every home buyer would appreciate it if the seller took his time and effort to assure that the condition of the house is fine. Aside from having strong proof on the condition of the house, a home inspection report also reflects the integrity of a seller.
A home inspection report has a lot of advantages both for the buyer and the seller, and is certainly an integral factor in every house purchase.
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John Cutts has been educated in the finer points of the foreclosure market over 5 years.