Dallas TX, Home Shopping Tips

Look at general condition and components in the home.  Your home inspector will check these items thoroughly once you have executed a contract to purchase a home.

Evaluate the Homes Condition:

Interior / Exterior
Brick - bulging or cracking?Sub-flooring damaged or loose?
Roof shingles - missing or brokenCracked walls or ceiling?
Siding - rotted or missing? Cracked tiles?
Gutters - damaged or in need of cleaning?Soft, springy floors?Water stains from leaks?

Home Inspections

There are numerous types of inspections.  A home inspection evaluates the structural and mechanical condition of a property.  It is not the same as an appraisal that evaluates the market value of a property.  Persons involved in real estate transactions need unbiased information about the physical condition of properties that they plan to buy or sell.  Speak with your real estate agent about what you should look for in an inspector, and to get a referral list of licensed inspectors. 
The inspection should be done as soon as possible after you have executed a contract with a Seller.  It must be done during the option period, and the length of time for the option period will be specified in the sales contract.  Having an inspection done during the option period protects buyers by allowing them to be informed of problems with the home and items that may need to be repaired.

Home Inspectors vs. Engineers

A Licensed Home Inspector will examine the components of a home through visual inspection and through manual tests of certain components of the home.   A Structural Engineer is licensed in engineering analysis.  He/she will inspect a home to determine if there are structural, foundation, or drainage problems.

Finding a qualified Inspector

*Make sure they are licensed by the State of Texas!
* Referrals from satisfied customers (often a list of inspectors from your real estate agent)
*Yellow Pages under “Building Inspection Services”
*Be sure the inspector is also licensed to do termite inspections
*Ask if he/she is a member of the American Society of Home Inspectors (ASHI).
The ASHI has established standards of practice, which include the specific services, limitations and exclusions that can be expected from private home inspectors.

Why an Inspection is done

Every inspection should include an evaluation of the major components of the home and should point out items that are in need of repair.  This allows the buyer to be as fully informed as possible about the basic condition of the home. 

Inspection reports should cover, but not be limited to, the following items:

Foundations
Plumbing
Electrical system
Hot water heater and gas lines
Ceilings and walls
Windows and doors
Roof
Heating and air conditioning systems 
Kitchen appliances that will be included in the sale
Pools and pool equipment
Sprinkler systems

The inspector should give you two reports, a general inspection report and a termite report.  Termite inspections are required by many lenders and are required on all FHA loans.  Even if your lender does not require a termite inspection, it is still highly recommended that you obtain one.



Important points to remember:

Excellent buys are often made on homes that require a little work. Work closely with your agent.  An agent can pre-screen homes that you see advertised and save you endless hours of work.

Your parents or family can contribute money to you for the purchase of your home.  Ask your agent or lender for details about this process.

Each contract offer that you make on a home must be accompanied by an earnest money check, payable to the title company and an option fee check, payable to the seller. If you are serious about buying a particular home, it is important to price your offer correctly.  You don’t want to lose the home to someone who made a slightly better offer.

When your contract offer is presented to the seller, he/she can reject it or make a counter-offer.  You can accept or reject a counter-offer.  If you reject the seller’s counter-offer, you can make another offer.  The contract is binding when the seller accepts your offer and both of you have agreed to all points in the contract. 

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