Which Repairs Should Baton Rouge Home Buyers Ask For After Home Inspection?
AND, please read my advice on this topic after over 20 years of appraising homes for purchases.
Teresa says, “There are some things that a home has to have like working plumbing and in Minnesota a working furnace or boiler is required. Personally I believe that if something . . just about anything in a home leaks the sellers should fix it unless it is a family member and in that case they should take it with.”
“Buyers should keep in mind that sellers do not always have the money needed to make repairs. Sellers should understand that often home buyers are strapped for cash and can not afford to have repairs made and buy a home all at the same time . . yet buyers need to know that there will be repairs in the future and they should budget for them.”
“I encourage all buyers to have a complete home inspection but when it is all done some are sure that they want to ask to have every little thing fixed and other buyers ask for almost nothing. Which repairs should buyers ask for? Some repairs do seem ridiculous but having a furnace repaired so that…”
Read Teresa’s entire post here: http://www.stpaulrealestateblog.com/2014/07/asking-for-repairs.html
Baton Rouge Home Appraiser Advice, Bill Cobb:
If you’re the buyer, you want to make certain the Appraiser gets a copy of the home inspection BEFORE their inspection so they can know what major repairs were discovered. Appraisers take photos of these major repairs and if the report includes major repair photos, then the Lender making the loan can’t sell that loan to Fannie Mae or investors. Whether it’s a FHA, VA, RD or Conventional Home Loan, the Lender IS GOING TO REQUIRE REPAIRS OF MAJOR DEFICIENCES prior to closing the loan, whether you do or not. The last thing you or the Lender needs is for you to pay $5,000+ in closing cost to buy this home and then within 3 months have to shell out $10,000 for a new roof or $2,000 on a new central heater exchanger.