Repairs needed for home purchase
In today’s market where resale inventory is very low and new construction completion times are on the rise. I wanted to give you a few things to consider prior to signing a purchase contract on existing homes.
You must be ready to have your contractors in place so that you can negotiate before anyone enters a contract. Make sure you have financing understood so that you know what is expected prior to work being done.
The home inspection is for your peace of mind. Most lenders do not require a home inspection. We rely upon the appraiser to tell us the property condition. Without the extension of all the work will have to be being have done? The most important know how much the repairs are costing you prior to making a decision. This will allow you to negotiate from a position of strength.
When buying a home, you always want to make sure you are working with a realtor that can refer to you to consultants and contractors for replacement/repairs. Realtors are always available to speak with you about your home buying and to make great referrals. Working with a realtor that has experience with foreclosures and renovations is useful because they will save you time and money.
For more information on how we can help you, please call us at 888-362-1706