Sunday, September 7, 2014

House Inspection

We had the inspection on our house on Saturday. For the most part it went well or according to how we thought it would go. There was one issue we hadn't anticipated, but there are a few pipes that will probably need to be re-piped. It's not a whole lot of money, but it's definitely unexpected and will need to be budgeted. Luckily there was nothing major, like a foundation issue.

At this point if it wasn't a short sale we could have potentially asked for certain things to be fixed. With a short sale, if it was something major we could have asked them to reduce the price by the amount of the fix. Nothing was too big, so we have accepted the inspection as is.

Next on the list is the appraisal. Our lender will get our inspection papers Monday and will order that. No one has to be present for the appraisal. As long as the appraisal says are house is worth at least the amount we are buying it at, then our lenders will finance the house. I'm not too worried. I believe the house will appraise just fine. After that, we just have to supply all required financial documents and wait to close.

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