According to Ellie Mae’s latest Origination Report, the average FICO® Score on all closed loans dropped to 722 which is its lowest mark since April. The average includes all approved refinance
Why Do I Need A Home Inspection And What To Expect
A home inspection usually occurs after the sales contract has been signed by both parties and between the contractual time that has been given. The cost of the inspection varies based on the size of the home. No matter what home you buy or who you work with it is essential that you have a home inspection.
No one wants to move into a home with unknown issues. A home inspection contingency allows the buyer time to inspect the home with a professional to find any defects. It gives the buyer an opportunity to request repairs/money from the seller to address the issues within the home (for example plumbing, electrical, structural, etc problems), or withdraw from the contract if there is not a meeting of the minds. Depending on the size of the home the inspection should take 2-4 hours.
The standard home inspector’s report will cover the condition of the home’s:
Heating and central air conditioning system (HVAC)
Roof, attic and visible insulation
Walls, ceilings, and floors
Windows and doors
Foundation, basement and structural components.
Click the image below to take a virtual home inspection tour straight from the American Society of Home Inspectors which will give you detailed information on what to look for during a home inspection.
Melody Hall Visser is a passionate Realtor who lists, sells, and dwells in Northern Virginia. Currently, she serves as a REALTOR at eXp Realty, LLC. As a life-long resident of Virginia, Melody has....