The Boston region is one of the most popular areas to live. Known for its grand historical appeal and successful sports teams, residents of Massachusetts love the rich cultural atmosphere that pervades the state. Homebuyers are interested in living in Massachusetts for its proximity to the ocean, mountains, and of course, its stunning homes. While browsing homes for sale in Boston, however, you may want to pursue acquiring a home inspection. This is especially important in Massachusetts, where many of the homes, despite their beauty, have older systems in place. Boston real estate experts Kim Covino & Co. have provided a guide for all you need to know about home inspections before buying your dream home.
What is a home inspection, and is it required?
While home inspections are not required in Massachusetts, as mentioned above, they are highly recommended. Given the state’s historic status, homes in Massachusetts tend to have older elements that may need to be replaced.
Why should I get a home inspection?
By having a home inspection, you can identify the potential defects and issues your potential home has. You can decide for yourself whether you want to take on the burden of fixing these problems or if you would rather do without these challenges. You could also use the findings from a home inspection for leverage in negotiating the home's value if many problems need to be addressed. Of course, the main reason why home inspections are crucial is that they provide reassurance that your home is safe to reside in.
What is the difference between home inspection vs. appraisal?
An appraisal, however, is an evaluation of the home to determine what professionals believe your home should be valued. Appraisals are completed so lenders can determine a home's fair market value as part of the mortgage loan process. Lenders can ensure the home is valued high enough to support the loan amount. Thus, an appraisal is usually required by lenders.
What is the home inspection process like?
Once the inspection is complete, the professional will provide a report of what they found and recommendations for any necessary repairs. From there, the buyer can decide with their real estate agent whether purchasing the home is a sound investment.
How to choose a home inspector
You will want a certified or licensed inspector to conduct professional inspections and potentially a member of a professional association. These attributes demonstrate the experience and expertise of home inspectors. Also, be sure to retrieve a quote about the service and ensure that it is well within your price range.
Wait, what is the home inspection contingency clause?
What to do if significant damage is found
From there, you can ask the home seller if they would be willing to make the necessary repairs or if you could receive a discount from the original price to make up for the repair costs that you will shoulder. You and the seller will likely be able to develop some kind of agreement.
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