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Why a Buyer Needs a Home Inspection
A home inspection gives the buyer more detailed information
about the overall condition of the home prior to purchase. In a home
inspection, a qualified inspector takes an in-depth, unbiased look
at your potential new home to:
·
evaluate the physical condition: structure,
construction, and mechanical systems;
·
identify items that need to be repaired or
replaced; and
·
Estimate the remaining useful life of the major
systems, equipment, structure, and finishes.
Appraisals are
Different from Home Inspections
An appraisal is
different from a home inspection. Appraisals are for lenders; home
inspections are for buyers. An appraisal is required to:
·
estimate
the market value of a house;
·
make sure
that the house meets FHA minimum property standards/requirements;
and
·
Make sure
that the house is marketable.
FHA Does Not Guarantee the Value or Condition of your Potential New
Home
If you find problems with your new home after
closing, FHA can not give or lend you money for repairs, and FHA can
not buy the home back from you. |
Radon Gas Testing
The United States Environmental Protection Agency and the
Surgeon General of the
United States have
recommended that all houses should be tested for radon. For more
information on radon testing, call the toll-free National Radon
Information Line at 1-800-SOS-Radon or
1-800-767-7236. As with a home inspection, if you decide to test
for radon, you may do so before signing your contract, or you may do
so after signing the contract as long as your contract states the
sale of the home depends on your satisfaction with the results of
the radon test.
Be an Informed Buyer
It is your responsibility to be an informed buyer. Be sure
that what you buy is satisfactory in every respect. You have the
right to carefully examine your potential new home with a qualified
home inspector. You may arrange to do so before signing your
contract, or may do so after signing the contract as long as your
contract states that the sale of the home depends on the inspection.
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