Buy a House Fast

Nowadays, it’s standard practice for a home inspection to precede purchasing a house.  Think about it: wouldn’t you want to know as much as possible before making one of the biggest decisions of your life?  The same way you ask for a vehicle history report before buying a used car, you ask for an inspection to know what it is you’re getting yourself into, and to be aware of any red flags (or existing  problems) that may need to be dealt with down the line.

Not always included

What you may not know about the inspection process is that it tends to vary, not only by region but based on the credentials of the inspector.  Be aware that the home won’t always be checked for the following:  asbestos, radon, methane, radiation and formaldehyde, wood-destroying organisms (like termites), mold, mildew and fungi, rodents, or lead.  Many of the items on this list require specific licenses to identify and flag.

What to expect

By and large, home inspections WILL pay close attention to the following:  structural elements (ceilings, walls floors, foundation etc), the home’s exterior (grading, wall coverings, landscaping etc), the roof and attic, plumbing, systems and components (AC, heat, ducts etc), the electrical, the garage and all appliances.
While the inspection won’t always provide you with the exact condition of each of these features, it will let you know which are defective and could potentially be hazardous to your health.

It’s an understatement to say that things are tough everywhere these days, and the real estate market is no exception.  Selling houses has never been more difficult, and buying one can be a challenge, too.  In this week’s entry, we’re going to concentrate on some of the obstacles facing first-time home buyers in today’s economy.

When it takes more than an I.O.U. to guarantee R.O.I.

If you keep tabs on any of our other blogs, you probably have a good understanding of the different kinds of mortgages available, and the steps that need to be taken to secure the loan necessary to finance a new house (if you’d like more information on this process, you may find http://blog.expresshomebuyers.com/uncategorized/mortgage-101/ a useful read).  Trouble is, with so many property prices dropping like stones, lenders are becoming increasingly picky about who they approve for loans- after all, the reason so many companies found themselves in hot water last year was because they lent money to people who ended up defaulting on their loans.

More than ever, the key is to try and maintain as good a credit rating as possible.  A phrase you hear a lot in the business world is R.O.I., or “return on investment.”  Companies want to make sure that if they put money in, they’ll get money out, and sub-prime lenders who take chances on people with bad credit are a dying breed these days.  A good credit rating is your best chance of convincing a lender that you’re a sound investment.

Money up front

Assuming you’re able to get yourself a loan, the headaches don’t always end there.  A growing number of lenders now require an initial deposit of at least 25% of the home’s price, partly to guarantee themselves some money right off the bat in case of loan default, and partly to make sure that the people receiving the loan have the funds to pay it off.  What this means for you is that it’s become extremely important to select a house that is well within your means, one that you can afford to make a sizeable deposit on.
This is where we come in: we offer fully refurbished homes that have been restored to like-new condition at incredibly affordable prices.  We’re a great bargain in times like these, especially when the houses we sell can be yours for no money down.  If this is something you’d be interested in, make sure to check out our website and contact us if you have any questions.