Buying a Home - Appraisals, Inspections, Seller Disclosures

Real Estate Appraisals

Or property valuation is the practice of developing an opinion of the value of real property, usually its Market Value.   An appraisal will protect you as a buyer by providing an estimate of your new homes value.  An appraiser value that is lower than your purchase price may spell problems for your financing, and make you question your offer price.  An appraisal higher than the purchase price lets you know you are getting a fair deal!

Inspections

Inspections are used to help the average home buyer determine the property he/she is buying is safe and free of defects.   Common inspection items are termite, whole house, foundation, well and septic.

Seller Disclosures

Sellers are required to disclose to you certain items pertaining to their home.  This information is intended to help you as a homebuyer make an informed decision about the home you are buying.  Disclosure requirements and forms differ by state, and contain very important information.  Please review carefully and with the guidance of an attorney.

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