Home Inspection

An independent professional home inspection, done at the right time, could save you thousands of dollars. The results may influence your purchase price, the terms of or contingencies to the purchase agreement, and the type of insurance coverage you decide is needed. Knowing the condition of the house before the settlement date may save you costly repairs later on. A formal offer should include an inspection contingency. Fox Valley Mutual Mortgage recommends that you hire your own inspector to ensure that your interests are being protected. Contact our team for more information today!

When you find the home you want to purchase, a home inspection will provide you with critical information about the condition of the house. Negotiating needed improvements can only happen if the buyer is aware of them. While an appraisal may set the value of the home, the inspection verifies the specific details of the condition of the house such as:

• The cleaning or repairs needed
• The structural aspects of the house (such as the foundation, framing, roof)
• The internal systems (such as plumbing and electrical)
• Other representations made by the seller

Note that once the inspection report has detailed the issues with the home, you can negotiate repairs. Knowing the actuality of the condition of the house will allow you to include contingencies that the seller must meet so that you don't become liable. A professional home inspector will know what to look for – what kinds of factors are important to evaluate before entering into a final purchase commitment. Let our mortgage brokers answer your questions. Reach out to us today.

Prior to the loan closing, a final home inspection should be done by a certified home inspector to ascertain that the conditions of the agreement have been met. This is commonly called the walk through. Your real estate agent will set up a walk through of your future home as close to the actual closing as possible so that you can see what has been done. This is your last chance to ensure that all of your requested repairs have been performed to your standards and that you see nothing else of concern. Once you have signed at the closing of your home, your options will be limited if recourse is needed.