Buyer Tip: Be Prepared For the Home Inspection

In home buying, ready-aim-fire is equivalent to pre-approval-search-offer. Similar to at the firing range, keeping the order in place will give you a better chance of succeeding. In both cases, the first two steps are totally in your control as far as time goes.  You can get the documents that the lender needs to them as quickly or as slowly as you like.

While searching, you can change the definition of the perfect house on the fly and look at as many houses as you want before making a decision. But once you pull that trigger, you had better be prepared because you now have a limited time (usually 10-14 days) to schedule and inspection, review the report and decide whether further negotiations are needed or to back out and retain your first good faith deposit.

 Prior to this point, if you are using a Buyer's Agent to represent you, he/she should have given you a copy of the Commonwealth of Massachusetts - Office of Consumer Affairs "Facts For Consumers"  regarding the Home Inspection Process. Knowing what a typical inspection consists of as well as other concerns that may come with an additional cost (lead paint, radon, etc...) as well as already having quotes and lead times will help to slow the process down and allow you time to make educated decisions.

 You may also want to review my last blog post on how the inspection can affect your ability to get homeowners insurance.

 Additional Helpful links:
  Take a Virtual Home Inspection Tour
  Download Our FREE HOME BUYING GUIDE 
  Use the Giles Team Online Solution Center to ask a question