Why Should a Lender Require a Home Inspection?
For those of you in the lending field, we are sure that you have read in your industry's publications of the increased use of home and building inspections across the country. There is every indication that professional inspections will become a standard requirement in the next few years.

There are very sound reasons for this rise in inspection usage. While the use of appraisals has been the norm for many years, they are only an educated opinion of value. They are not meant to be an investigation of the condition of the home and its components & mechanical systems. The opinion of value is determined largely by comparing the subject home to the sale price of other similar homes in the area.

By their very nature, appraisals have been limited by the type and quantity of information that they can generate. Typically, they relate little more than the statistics associated with a home ~ square footage, number of bedrooms and bathrooms, number of fireplaces, etc. The descriptions of the conditions found in the home are usually based on a cursory visual scanning of the interior and exterior of the building. Adverse conditions have to be blatant in order to be mentioned, and rarely is an explanation given as to the cause of the problem.

With the rising cost of homes and the costs associated with repair and replacement of home components and systems, it make sense for both the buyer and the lender to know the condition of the home before closing. You research a borrower's capability to pay a mortgage for 15 or 30 years. Doesn't it also make sense to research the condition of the property for which you are lending the money?

A professional home inspection can tell you in advance of closing if the house has safety problems regarding fire potential, drainage problems that may result in significant damage to the foundation, or aged & hazardous systems, which could threaten not only personal safety, but also the viability of the entire structure.

Advanced knowledge of major problems may confirm the need for a higher mortgage amount; thus reducing the borrower's risk of having to deal with unexpected expenses that they may not be able to afford after the closing.

Money Back Guarantee Each of our inspections comes with a complete money back guarantee. If, for any reason, it is found that our inspection is not completely thorough and accurate, we will promptly refund your inspection fee.