SPECIAL SECTION: REAL ESTATE
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BUYING: Getting an inspection can save you money in the long run.
Inspection fees can range from $ 300- $ 500, allowing some to think they can save money by avoiding an inspection. In almost all instances, this is false. Many issues in a home may go unseen by the untrained eye. If an inspector reveals defects not disclosed by the seller, you are able to negotiate a new offer or rescind altogether. Without an inspection, these potentially costly issues would ultimately fall on the buyer’ s shoulders.
BUYING: Protect yourself!
It’ s easy to get wrapped up in signing papers and losing sight of what you are agreeing to when buying a home. Fortunately, contingency clauses can protect you from losing what is yours. An example is a mortgage-financing contingency; if you lose your job or your loan falls through, you’ ll get your“ earnest money” back in full. Otherwise, you may be obligated to follow through with purchasing a house you can no longer afford.
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