Certain
cosmetic repairs, like a fresh coat of paint or new carpet,
may cover up serious flaws. That is why we recommend that you
get a professional home inspection. In addition, a home warranty
will give you peace of mind while homeowner's insurance will
help protect your most valuable investment.
Home
Inspection
While you can see for yourself many flaws in a house, the practiced
eye of a professional inspector can probably spot more, especially
in areas not easily accessible to a home buyer. A professional
home inspector surveys the foundation and structure, roof, exterior,
major systems (electrical, heating, cooling and plumbing), and
appliances that will stay with the home.
Tour the house with the inspector, who will point out potential
trouble areas, as well as what's "sound." If the inspection
does turn up some flaws, a seller is often willing to make repairs,
but it may depend on market conditions. Take notes as you tour.
Get the inspection report in writing. This document will support
or deny the contingency addendum to your agreement.
You can add a home inspection contingency to your purchase agreement.
This requires the seller to make legitimate repairs - or if
the seller is unwilling to do so, it allows you to cancel your
agreement. Depending on which contract is required, a
seller is only obligated to repair those items that are considered
a "defect".
An inspection may take a few hours and cost a few hundred dollars,
but it can save you time and headaches in the long run. Specific
information could even reduce the price of a house if the seller
will agree the price has not already been discounted for defects.
We always recommend you get your own inspection with your
own inspector. Ask your Bellamy Team real estate professional
for a list of professional inspectors in your area.
Home
Warranty
A home warranty repairs or replaces a home’s major mechanical
systems and appliances for a specific length of time, a year
in most cases. This is a home buyer’s best defense against
expensive repairs or complete replacement of major items, such
as a roof, furnace, or washer and dryer. If the seller is not
offering a home warranty, you can still ask for one as part
of the contract. Or you may purchase a home warranty for yourself.
Ask your Bellamy Team sales associate for more information on
home warranties.
HomeOwner's
Insurance
Your home typically is the single biggest investment you'll
ever make. By protecting it with homeowner's insurance, you'll
have financial protection against the unexpected. Most lenders
require a home buyer to provide a one-year paid receipt for
a fire and hazard insurance policy at closing. Fire and hazard
insurance provides protection for fire and other perils to your
home and its contents. Aside from protecting your home and your
possessions, it provides you with liability coverage. These
policies are available from the insurance company of your choice.
