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Buying a home that needs some repairs? Think twice about these projects

Housing Wire

Some are waiving inspection contingencies, while others are avoiding repair requests, opting to handle home repairs, fixes and upgrades as needed later on. While this approach could certainly help buyers win out in a bidding war, the strategy also comes with some serious risk — especially if the home inspection is skipped.

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Why you shouldn’t waive the home inspection

Realty Biz

need one or two things to be patched up, with 86% of all home inspections turning up some kind of problem, according to a study by the home improvement website Porch.com. Besides making a higher offer, some buyers are also waiving the home inspection to make their offer stand out. The vast majority of existing homes sold in the U.S.

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Who Pays for the Home Inspection When You’re Buying a House? (Is It Me?)

HomeLight

As you run down the list of steps from appraisals to final walkthroughs, you may find yourself focusing on one item in particular: the home inspection. About 95% of purchased homes go through an inspection, and it’s a requirement for many mortgage loans — so it’s certainly an important part of the process. Windows and doors.

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Unpermitted Additions: Here’s What You Need to Know Before Buying a Home with DIY Renovations

HomeLight

Unpermitted additions include any form of remodel or renovation on a home where the owners did not obtain the proper permits from the city’s building department, even though a permit was required to begin work. CPI, a home inspector and structural engineer with the Tampa Bay-based Red Flag Home Inspection, LLC. Let’s dive in.

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How to Find & Buy for Sale by Owner (FSBO) Homes in 6 Steps

The Close

Short-term FSBO Financing Options Short-term FSBO financing is ideal for investors who are navigating how to find for sale by owner homes and wish to acquire, renovate, and sell a property within a brief period. Rehab loans: Specifically designed to finance both the purchase and renovation of under-maintained properties.

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How Do You Sell a House As-is? Everything Agents Need to Know

The Close

As their agent, you must also know how to protect your clients through the as-is selling process and understand the nuances such as navigating inspections and disclosures. The buyer is expected to shoulder additional renovations and improvement expenses once they become the official homeowners. for your seller clients.

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Your Guide to What Home Inspectors Look For

HomeLight

But you’ll still have to get over the home inspection hurdle that could reveal issues requiring repairs or cause buyers to renegotiate a lower sales price or even walk away from the deal. While 18% of settlements are delayed, problems encountered during inspections hold up one in ten contracts. What is a home inspection?