Home Mortgage Blog
Is a Home Inspection Required?
In the mortgage industry, we are often asked if a home inspection is required. In many cases, the answer is no. However, even when it is not required, a home inspection is certainly recommended.
You are making a large investment when you buy a home, and having a professional home inspector look at it could save you a lot of time and money in the long run.
Doing a house inspection up-front can also be helpful in the event that an appraiser finds a deficiency in the condition of the home. Should this happen, the underwriter will ask to see that section of the home inspection (sometimes referred to as an Engineer’s Report). Having secured an inspection will save time and keep your mortgage process moving smoothly. Additionally, identifying issues early in the process may mean the seller will remedy them prior to sale.
Purchasing a home with the assurance of good condition –or at least the knowledge of any potential issues – makes for more accurate pricing and cost expectations. Both of these are clearly to your benefit. By comparison, the cost of a home inspection is small.
Source: Top of Mind Networks, LLC.