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Appraisal or Inspection: Which Do You Need?

East Coast Appraisal

While trying to buy a home, you may have found out that some lenders require their borrowers to have an appraisal and/or an inspection completed. Some lenders may only require an appraisal and leave the decision about an inspection up to you. During an appraisal, the buyer or seller doesn't need to be present.

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How a Seller’s Home Inspection Can Net You More Money When You Sell

Eppraisal

Home buyers almost always have a professional home inspection performed by a licensed inspection company when they purchase a home. However, it is not a bad idea for sellers to have a home inspection, or pre-listing home inspection, performed as well.

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Why Sellers Shouldn't Ask to See Inspection Reports

Eppraisal

They also help protect the sellers from any future liability. Homes with no known defects also have higher home values. The lead-based paint disclosure is a federal seller's disclosure requirement. The disclosures help protect the buyers. This is not a good idea, for liability reasons.

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Why Buyers Shouldn't Waive Inspection Contingencies

Eppraisal

Buyers are pulling many different strings in order for their offers to be accepted including offering sellers significantly above list prices. They are also offering to meet the sellers' closing dates or to purchase the homes "as is." Some are waiving appraisals and others are even offering to waive inspection contingencies.

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Winter Home Inspections

Eppraisal

If so, you'll need to be aware of how the weather can affect your home inspection as there may be a few challenges. You'll want to make sure you are purchasing a home that is free of major defects and safety hazards, as a solid and safe home will help to maintain your future home value.

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The Real Estate Transaction: Part 2 - From the Eyes of the Seller

Eppraisal

We'll now dissect the entire real estate transaction from the perspective of the seller. Be sure your agent did an analysis for you and that you are aware of the home values for similar homes in your area. Negotiate the price based on these home values. Be prepared to negotiate their requests.

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Market Correction or Seller Panic?

Appraisal Buzz

Therefore, it begs the question: what will happen to home values? To answer this question, we must consider the historical correlation between interest rates and home price appreciation. Since 1976, mortgage interest rates and home price appreciation have had a positive, but weak relationship.

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