Cell: (804) 370-0401
Sign Up Login

Home Buying

Living RVA Blog Home

rss logo RSS Feed
buying | 11 Posts
Economic Impact | 4 Posts
Home Sales | 3 Posts
Listing | 3 Posts
mortgage rates | 2 Posts
Richmond | 2 Posts
RVA | 31 Posts
Santa Cheer | 2 Posts
selling | 9 Posts
Uncategorized | 1 Posts
Virginia | 1 Posts
Awards | 1 Posts
Buying a House | 4 Posts
Community | 1 Posts
Events | 1 Posts
Home Buying | 2 Posts
Home DIY | 2 Posts
Home Improvement | 17 Posts
Home Selling | 5 Posts
Homeownership | 9 Posts
Lifestyle | 8 Posts
Market Trends | 2 Posts
Moving | 4 Posts
Richmond, VA | 30 Posts
August
24

What Sellers and Buyers Need to Know About Home Inspections

Home Inspections

A home inspection is an important step when you're buying or selling a home, so it pays to know what an inspection entails and exactly what kind of information it reveals.

Our REALTORS® explain the following points buyers and sellers need to know about home inspections for Richmond homes for sale.

  • How a Home Inspection Works  
    A home inspection isn't mandatory, but it's usually a good idea to have one performed. The homebuyer usually pays for the inspection, which calls for a third-party professional inspector to closely examine and evaluate many aspects of the property. If you'd like to look at the home when the inspector does, there's a lot you may be able to learn.   

    Sometimes a home seller will pay for an inspection to reassure potential buyers that their property doesn't have any major issues. The areas covered by an inspection usually include the foundation and basement, interior plumbing systems, interior electrical systems, heating, and cooling systems, and more. After the inspection, a report will be generated for you to examine.

  • How to Choose a Qualified Home Inspector  
    If you need help finding a home inspector, your REALTOR® can often suggest someone who has the proper credentials and experience. He or she should have certifications from groups such as the National Association of Certified Home Inspectors (NASH) and the American Society of Home Inspectors (ASHI). That way, you'll know they meet ongoing professional standards.

    In addition, they should carry an insurance policy that protects you in case they're injured on the property you own. Experience in the local area is also a plus. That way, the inspector knows about local pest issues, soil conditions, and more.

  • What an Inspection Can't Do  
    While an inspection provides a great deal of information, it can't predict the future or give you a guarantee of how long a system will last. Instead, it can let you know about the age of important systems and provide a snapshot of their condition at the present time. A system that was working properly when it was inspected could develop problems. 

    And some areas of the property – such as inside the walls or septic tanks – may not be a part of a standard inspection. If that's the case and you'd like to have these areas inspected, your REALTOR® may be able to suggest someone who can do this more specialized job.

  • What Happens After the Inspection  
    After the inspection is completed, the buyer will be given a report detailing any problems. At this point, the buyer may decide to move onto another home or may choose to negotiate with the seller to either make some repairs or to lower the price to compensate for the cost of fixing the issues that were found.   

    If the seller has ordered the inspection and it reveals any serious issues, he or she might choose to make the repairs, since potential buyers may not want to deal with the hassle and time involved with significant repairs even if the home price is reduced accordingly.

Contact us to learn more about home inspections and how they can benefit buyers as well as sellers. And whether you're buying or selling a home in the Richmond area, our experience and knowledge of the local area can help make your transaction proceed smoothly.

May
17

5 tips for first-time buyers

Spring is here and that means many first-time buyers are looking to enter the market. Having the ability to get through that process with as little stress about the purchase as possible is critical in highly competitive markets.

With that in mind, here are five tips that should help first-timers better navigate the real estate sales process without a lot of stress, confusion or hiccups:

1) Work with a qualified real estate professional

First-time buyers in particular are always advised to work with a real estate agent on the process because it can be so complicated and time-consuming, even with professional help, according to The Balance. There are about a million things that can pop up in the course of the search for a home and, even after a deal is agreed upon, the sales process itself. As a result, having an agent you can call or text with questions or concerns as they develop is an absolute must.

2) Get pre-approved

When trying to buy a home, one of the most difficult things for first-time shoppers is finding a budget that works for them and their unique financial situations, and actually sticking to it. When shoppers fall in love with a particular home, it can be easy to bid aggressively and end up agreeing to a price they might not actually be able to afford.

This is one huge reason getting pre-approved for a mortgage is so important: A lender will let you know roughly how much credit they will extend to you, and that should serve as the ceiling for what you can bid. As an added bonus, borrowers will also be able to expedite the sales process itself if they are pre-approved.

3) Narrow the search

With the help of an agent and a budget in mind, first-timers will have a much easier time finding homes they're interested in and really focusing on which will be best for them based on their own needs. Honing in on specific features within a certain price range can help reduce the number of open houses they have to attend.

4) Look beyond the asking price

first-time home buyersIn addition to the expense of buying the house itself, first-timers would be wise to remember the other costs associated with homeownership, according to DaveRamsey.com. Adding in expenses like higher electric and heating bills, homeowners insurance and the cost of making the small home repairs that will likely add up significantly over the course of the year is a must when it comes to determining how much house you can truly afford.

5) This about more than just the house

Finally, it's also important to consider future plans. If first-time buyers think they will be looking to trade up for a bigger house in the next five years, that's something to discuss with an agent. The same is true of local amenities, the quality of school districts for those with kids and so on, because all of this will not only affect the price of the house, but also the quality of life for first-time buyers.

Brought to you by HMS Home Warranty. HMS is an industry leader with over 30 years of creating success for clients and providing peace of mind for customers. To learn more click www.hmsnational.com

Disclaimer: All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information on this site was last updated 08/18/2022. The listing information on this page last changed on 08/18/2022. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of CVRMLS (last updated Thu 08/18/2022 1:07:51 AM EST) or Bright MLS (last updated Thu 08/18/2022 12:56:29 AM EST). Real estate listings held by brokerage firms other than Joyner Fine Properties may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. All rights reserved. --

Privacy Policy / DMCA Notice / ADA Accessibility

Agency License Information: Joyner Fine Properties and its agents are licensed in the Commonwealth of Virginia.

 


Agent License Information: 0225056580 Licensed in the Commonwealth of Virginia

Login to My Homefinder

Login to My Homefinder