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Equal Housing Lender | Mid America Mortgage, Inc. | Company NMLS ID 150009

14900  Landmark Blvd. Suite 600, Dallas, TX 75254

NMLS 150009 (www.nmlsconsumeraccess.org) is an equal opportunity lender, Arizona Lic BK 091759; licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act Lic 4131103 and Finance Lenders Law Lic 603J732; regulated by the Colorado Division of Real Estate; Georgia Lic 31847; Illinois Residential Mortgage Licensee MB.6760775; Kansas Licensed Mortgage Company MC.0025093; Massachusetts Lic ML150009; New Hampshire Banking Department; Oregon ML-5045; Washington Lic CL-150009.

Home Inspection

When should I have a professional home inspection done?

An independent professional home inspection, done at the right time, could save you thousands of dollars. The results may influence your purchase price, the terms of or contingencies to the purchase agreement and the type of insurance coverage you decide is needed. Knowing the condition of the house before the settlement date may save you costly repairs later on. A formal offer should include an inspection contingency. Hire your own inspector to ensure that your interests are being protected.

When you find the home you want to purchase, a home inspection will provide you with critical information about the condition of the house. Negotiating needed improvements can only happen if the buyer is aware of them. While an appraisal may set the value of the home, the inspection verifies the specific details of the condition of the house such as:

• The cleaning or repairs needed
• The structural aspects of the house (such as the foundation, framing, roof)
• The internal systems (such as plumbing and electrical)
• Other representations made by the seller

Knowing the actuality of the condition of the house will allow you to include contingencies that the seller must meet before you become liable. A professional home inspector will know what to look for – what kinds of factors are important to evaluate before entering into a final purchase commitment.

Prior to the loan closing , a final inspection should be done to ascertain that the conditions of the agreement have been met. Once you have signed, your options will be limited.