Why do I like my buyer clients to have home inspections in the rain?
Simple: because you get to see how the house actually lives.
Video after the jump.
Every real estate market is different; this one has brought more pre-offer inspections than I have ever seen (in part because I’m more comfortable suggesting them to my buyer clients). … The home inspection negotiation is often the most emotional, vindictive, painful and difficult periods of the negotiation; a pre-offer inspection removes phase. … Risks : – Even in this market, homes are selling; some are selling with multiple offers and buyers can lose properties if they opt for the pre-offer inspection path – Some sellers don’t want to allow these; they want assurances that a buyer is really committed before allowing a home inspection. … One must evaluate all factors involved, some of which are the buyers, the sellers, the buyers’ agent, the sellers’ agent, the respective companies, the days on market, market activity to name a few …
“When Do Homes Come on the Market in Charlottesville?” is one of the most common questions I get.
Using the data from 2010 for the Charlottesville MSA*, it’s clear that homes come on the market in the early part of the year.
There’s no question that inhaling a lot of radon is bad for you, but some scientists think such statements could use a little context. … … The huge difference in risk is because smoking and radon appear to have a powerful synergy when it comes to lung cancer.
…”If you want to reduce the number of radon-induced lung cancer deaths in the country, one thing you could do is reduce radon for everybody,” he says. “A better thing would be to reduce radon just for the smokers maybe, because they’re the ones with the largest risk from radon.
Lesson learned – work with someone who knows the people involved, who can make things happen (ethically and legally) and who can foresee issues. Knowing the people – one of the main reasons I strongly advise working with local lenders . As a buyer, there is quite a lot that happens behind the scenes of your loan. “Meet” a few of those people: – The Processor. – The Appraiser. – The Underwriter. – The Loan Officer. – The Closing Department. (in Charlottesville, that’s the attorney or closing company )
Big thanks to Tim Kelsey with Boyle, Bain, Reback and Slayton in Charlottesville for dropping some title insurance knowledge and advice. I tell my clients that title insurance may seem to be worthless, but … if you end up having a claim against your property, the cost of title insurance will be far outweighed by the cost of hiring an attorney.
But … apparently lenders wont’ have to run a second full credit check before closing on a mortgage : Despite earlier reports to the contrary, it turns out that your mortgage lender will not have to pull a second full credit report on you hours before closing on your home purchase or refinancing. In a clarification of a policy announced earlier this year, mortgage giant Fannie Mae now says that applicants will need to come clean about any debts they have incurred since they submitted their mortgage application — or debts they never disclosed on the application. But a formal pre-closing credit report will not be mandatory to confirm creditworthiness. The chances of everyone in the lending pipeline (underwriters) actually getting this memo: slim to none.