What’s the Role of a Home Inspection in a Real Estate Transaction?

Home inspections give homebuyers a thorough evaluation of the property they want to buy so they know exactly what they’re getting into before they sign on the bottom line.

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What is a home inspection? How does it benefit you as a homebuyer?

Whenever you purchase a home in the state of Massachusetts (or anywhere in the US), it’s wise for you to have a professional home inspector who’s designated with the ability and credentials to inspect that property.

What happens during an inspection? First, the inspector will go through all of the home’s systems (i.e. heating, electrical, air conditioning) and structural elements. They’ll also review the history of the home and any conditions regarding contaminants such as lead paint, asbestos, mold, etc.

The purpose of the home inspection is to evaluate the property, identify any issues that may be concerning to you as a buyer, and provide a scientific evaluation of all the aspects of the property general so when you purchase it, you’ll know if there are any defects, how to handle them, and what the value of the property is with regards to any of the negative characteristics that arise out of the home inspection.

If the home inspection reveals problems that are insurmountable, you may want to walk away from the property.

A home inspection benefits you in that it can reveal problems that may be insurmountable. If some of the defects aren’t correctable or can’t be negotiated over with the seller, it might be in your best interest to walk away from that property.

Lastly, it helps you know exactly what you’re doing before you sign on the bottom line, make a 30-year mortgage commitment, and start living in the home.

If you have any other questions about home inspections, don’t hesitate to reach out to us. I’d be happy to help you.

If Your Debt Has Become Too Much, a Short Sale May Be the Answer

What do you need to know about short sales? Today, I’ll go over some key information.

Selling your Massachusetts home? Get a home value report

Buying a Massachusetts home? Click here for full MLS access

Short sales occur when a homeowner can no longer sustain the debt incurred by their property and therefore decides to list it.

So, who wins with a short sale? Truthfully, everyone involved in a short sale will benefit.

By conducting a short sale, all of the debt would be forgiven subject to your satisfaction and approval from your lender.

Also, the buyer is able to purchase the property for approximately market value. They do not have to pay the amount you owe.

Short sales are really a win-win situation

The lender also benefits from short sales because they no longer have to service a non-producing asset. Short sales are really a win-win situation.

If you are thinking of moving forward with a short sale, it’s important that you work with someone who has experience. A knowledgeable agent or a company with a professional division managing short sales are both great options.

On average, a short sale can be facilitated, approved, and closed in two to four months.

Also, if you have no other adverse credit issues, you can purchase your next home just three years after your short sale completion.

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.