David Deem 714-997-3486 Dave@DeemTeam.com Buyers in today’s market often have questions about the importance of getting a home appraisal and an inspection. That’s because high buyer demand and low housing supply are driving intense competition and leading some buyers to consider waiving those contingencies to stand out in the crowded market. But is that the best move? Buying a home is one of the most important transactions in your lifetime, and  it’s critical to keep your best interests in mind.  Here’s a breakdown of what to expect from the appraisal and the inspection, and why each one can potentially save you a lot of time, money, and headaches down the road. Home Appraisal The home appraisal is a critical step for securing a mortgage on your home. As  Home Light  explains: “. . . lenders typically require an appraisal to ensure that your loan-to-value ratio falls within their underwriting guidelines. Mortgages are secured loan...

  David Deem 714-997-3486 Dave@DeemTeam.com If you’re planning to buy a home, an  appraisal  is an important  step  in the process. It’s a professional evaluation of the market value of the home you’d like to buy. In most cases, an appraisal is ordered by the lender to confirm or verify the value of the home prior to lending a buyer money for the purchase. It’s also a different step in the process from a  home inspection , which assesses the condition of the home before you finalize the transaction. Here’s the breakdown of each one and why they’re both important when buying a home. Home Appraisal The  National Association of Realtors  (NAR)  explains : “A home purchase is typically the largest investment someone will make. Protect yourself by getting your investment appraised!  An appraiser will observe the property, analyze the data, and report their findings to their client. For the typical home purchase transaction, the lender usually...

David Deem 714-997-3486 Dave@DeemTeam.com By Barbara Pronin Home inspections are a big deal. They can reassure a buyer that the home they are purchasing is in good condition. They can uncover areas of concern. They can strengthen a deal, make a case for re-negotiation or, in worst-case scenarios, kill the deal. That’s why, most agents say, both the buyer’s agent and the seller’s agent - and often the principals - should be present when the inspection is done. “Whether I represent buyers or sellers, I consider my guidance through the home inspection process to be a key element of my fiduciary role,” said veteran agent Mina Steen, Better Homes and Gardens Kansas City Homes. “Attending the inspection helps me understand any issues that are found so I can help my sellers understand what needs to be addressed - and find good vendors and fair bids for corrections. I also encourage my buyers to attend - or I have them on FaceTime. It’s a perfect chance for them to follow along...

David Deem 714-997-3486 Dave@DeemTeam.com By Meghan Belnap There are many practical reasons why having a professional inspection conducted is critical prior to purchasing a home, and hiring the right home inspector could end up saving you a lot of money and hassle down the road. Here are some of the main reasons why you should have an inspection done when looking at buying a new home: Accurate Home Valuation The price that a home is listed at is not always the true market value. Whether the listed price is too high or too low, you'll want to know what exactly you're negotiating for to get the fairest deal. Even if the homeowner had the property evaluated in the past, property values can change over the years based on a variety of factors, including the quality of the home itself and any additions or changes made. Unless you feel completely confident that the price listed by the seller is an accurate and updated estimate based on a professional evaluation, you ...