Home Warranty and Home Inspection Information
There are two types of inspections: Termite inspection and general home inspection. Termite inspectors look for evidence of current activity and past damage. Mortgage companies usually require a termite inspection.
A general home inspection covers the entire property and records problems and needed repairs. Depending on the area of the country this inspection may cover area specific problems such as the presence of radon gas. A Buyer’s Agent can help you select an experienced, licensed inspector and, most importantly, will negotiate needed repairs on your behalf.
When you purchase new construction the builder will issue various warranties from the builder (materials, workmanship, etc.) and from appliance manufacturers (stove, air conditioner, furnace, etc.). When you purchase a pre owned home private insurance companies have policies available that insure the buyer against defects (usually in plumbing, heating/AC and electrical) in the home being purchased. A Buyer’s Agent can help you decide on the best insurance company, coverage and length of coverage for your specific needs.
The last step in purchasing a home is the closing. At this final step all appropriate documents are executed and recorded, the loan is completed, the title is confirmed, title insurance issued, finances are confirmed and any other details are completed. When the closing meeting is adjourned the buyer owns the property.
Closings are conducted by various parties; attorneys, title companies, banks, etc., depending on the location and applicable state and local laws. A Buyer’s Agent will know the correct closing procedure where you purchase and can assist you in selecting the proper agent for your closing. The Buyer’s Agent can also explain closing costs to you and what you will need to be prepared to pay at closing.