Often times first time home buyers and even experienced buyers feel like they are throwing money away with all of the costs associated with closing. It is true, there are costs here, and costs there, costs everywhere when buying a home. The one cost I always try to preach the importance of is paying for a home inspection. I always have people mention to me how they are buying a new house, or the house is "not that old," why should we have a home inspection? I tell them more than likely there is nothing wrong with the house, but it is better safe than sorry. Most of the time there is nothing wrong with the house but minor repairs. I have had instances where that is not always the case though. Here is a story about a home that is about to close and some complications that went with it.
My buyer loved the house, "let's go to your office and write something up" he said. So we went to the office and drew up a good offer. He like other buyers I have had was skeptical about the costs I explained to him. When I explained in detail the importance of the costs and why they were necessary he shrugged his shoulders and went along with it. The next day the offer was accepted.
"What do we do now" the buyer said. I told him that we had to schedule a home inspection and he should probably be there for it. Once again he did not see why he had to pay $275 of his hard earned money for a home inspector, and why he needed to be there for the event. I said "It could be the best money you ever spent." He eventually went with it and we scheduled the inspection.
After the inspection the buyer called thanking me for highly recommending he get a home inspection. The water main under the house was rusted and would break in only a matter of time. The buyer asked if there was anyway to negotiate the main being fixed and him still buy the house. I explained that now we know there is a problem we might be able to get something done about it. I called the other agent and we were able to work out the repairs and both sides were happy.
If we never would of had the home inspection two things could have happened. The buyer could have moved into the house not knowing and the main break and him have to pay for it and what ever costs were incurred by the flooding. The other thing that could have happened is the buyer could have seen the shape the main was in after closing and still would have had to pay for it by himself. Which ever way, it would not have been good for the buyer.
I would love to speak with you and your family about other issues associated with buying a home. Email me or give me a call. My web site www.cabot4sale.com always has good tips also.
Good day
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