Tag Archives: Buying A Home

Why You Need To Get A Home Inspection

Finding the right Inspector, Is one way to achieve the rule of real state and that is to get your money’s worth , and to insure that you are getting a good investment.  Typically most agents will recommend a client when buying one of the homes in Santa Maria that they get home inspection.  The reality is you are not buying T.V. or even a used car.  When you end up having serious problems wiht a home it can cost you more than what you bought the home for.  So a home inspection can also buy you peace of mind. This will grant you to locate a property that is worth the cost.  There can be larger problems that you may encounter before you move in to your house, like electricity, water supply, plumbing, furnace and heat supplies, and generally build your home. And to make sure that everything is built up to standard. All of these are the issues can be something that an Inspector can help find.


There are numerous who have saved thousands of dollars by having an Inspector to look at what is in the home and how it needs to be changed.  Reality is that just because the Inspector says there is something wrong in your house,does not mean you have to cancel either.   Many of the Santa Maria homes for sale in Santa Maria, California are not perfect most homes are not.  But you may want to know for your own peace of mind what are the issues the home may have.  Many times you will find that the issues that the home has are really minor and nothign to worry or stress over.  But then you have the right to request repairs that will be an issue.  Just keep in mind we are talking about repairs that affect the integrity of the home not neccessarily anything cosmetic.  Being that in most markets you may be dealing with a foreclosure or short sale the bank will not look at any repairs that are cosemetic.  Only those that may be considered a lending condition for the loan.  Now if you and the seller can come to terms on the repairs needed you do have the right to ask for repairs or the money back that used for the deposit for the home. So you need to make sure that you choose the right Inspector, that you feel you and your agent can do a complete and competent job.  Sometimes the real state agent will have a given inspector that they like to work with. After all you can still provide your own Inspector by contract, This will help you to move into your home without any problems with a possible spare before you move in.

It is important to hire an inspector as a part of the process of buying a house. It will help to clarify and define the standard of the home and can lesser the burdens in the future.  First, before you sign any of your loan documents, good luck out there and remember that with rates at all time 50 year lows and values being what they are you can still find great deals out there.

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Should You Do A Final Walk Through When Buying A Home?


Imagine this. You move into your new home for the first time after closing and, although you transferred the utilities into your name, the lights don’t turn on. There isn’t a single light bulb left in the house, the yard is overgrown, and the leaky faucets the sellers were to have fixed still leak.

Most homebuyers aren’t faced with such an unpleasant surprise. You can gain some degree of control over the situation by completing a walkthrough inspection of the property within five days of closing.


Your purchase contract should include a clause that grants the buyers permission to do a final walkthrough inspection sometime close to the closing date. A final walkthrough provides the buyers an opportunity to verify that the property is in substantially the same condition it was when the sellers accepted their offer. The walkthrough is not a contingency of the contract that gives the buyers the right of approval or disapproval.

Your purchase contract should require the sellers to maintain the property in its present condition until closing. So, if a window breaks before closing, the sellers would be responsible for fixing it, depending on the verbiage in the contract.

During the walkthrough, the buyers can also confirm the completion of any work the seller agreed to do before closing. Ask the sellers to provide you copies of invoices for work done before closing. Keep these documents in your house file for future reference. If sellers made repairs themselves, they should provide an itemization of work completed that describes what they did.

HOUSE HUNTING TIP: It’s a good idea to have your REALTOR® accompany you on the final walkthrough and take notes as necessary. If the property isn’t in the same condition it was when you agreed to buy it, put this in writing and have your REALTOR® contact the sellers’ agent to inform them of the items remaining to be done before closing.

Your purchase contract should include a provision for the sellers to deliver the property to the buyers free of personal property and debris, unless otherwise agreed to in writing. For example, the sellers might have agreed to leave the washer, dryer, and refrigerator with the house, and the buyers accepted the offer.

These items are usually considered personal property, unless they’re built in. If the sellers moved these items out or the movers did by mistake, they would need to be returned by closing unless you make other arrangements with the sellers.

It can be very helpful if the sellers agree to do a walkthrough with the buyers to show them things about the home that the buyers would have difficulty figuring out on their own, like the location of obscure light switches or how to operate retractable skylights.

soldIf something is disclosed about the property that should have been disclosed earlier, put it in writing. If it’s something significant, talk to your real estate agent or attorney about how best to resolve the issue. Keep in mind that most real estate agents are not licensed to practice law. Also, seller disclosure laws vary by state.

Doing a final walkthrough to verify the condition of your new home can be complicated if it’s tenant-occupied. If you are buying a tenant-occupied property to live in, your contract should provide for the property to be vacant several days before closing.

THE CLOSING: That way you can walk through the property free of tenants’ belongings before you close the deal.

Dian Hymer, a real estate broker with more than 30 years’ experience, is a nationally syndicated real estate columnist and author.

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Why Is It So Important To Order An Appraisal

Investments, loaning terms, processes and other parts of real estate can often be overwhelming to someone who hasn’t received a degree in real estate, and is just learning how to buy a home.  One of the first steps for anyone that is buying a home after they have gotten an accepted offer on one of the Santa Maria homes for sale is ordering an appraisal.

An appraisal consists of a professional opinion that is made about a property.  There are several factors being considered in making such opinion and in order to make an unbiased statement. Furthermore, the appraisal will lead to the conclusion of what the market value is.  If the market price cannot be defined easily, then someone can look at other important areas of the property and determine what he believes the market price should be.  Usually, this job is done by an inspector. He is looking at the various significant mechanics that may have been swept underneath the rug.

Moreover, there’s a big difference between an inspector and an appraiser. Typically, an appraiser is working for a bank whereas the inspector is working for the owner of the property to be sold, replace or repair. The inspector also take charge of an in-depth searching regarding the broken furnaces or improper ceiling installment and a lot more related to these. In this manner, an inspector is more of an associate of the property owner than that of the appraiser.

An appraisal is a necessary requirement when one is looking into selling a home or having the property insured or financed.  It may use several external resources and key definitions pertaining to what market value may be included, in relation to the opinion being made in determining the price value of a home or property.  When getting an appraisal, you can expect that the estimates will be based around the various factors that are related to the market value of the present time.  Instead of just examining the parts of the property, an appraiser should also examine the neighborhood and see what everything else is worth in relation to the property.

By appraising a property, you will know as to how much the home is worth with regards to your own necessity from the property and everything around it. Moreover, by observing the standards that are set both inside and outside, you will have the guaranteed knowledge of knowing when will be the right timing to get involved with your piece of real estate.

In appraising a property, you have to know the different key terms that are involved. The two most significant terms are the market value and the price. In many instances, appraiser has a difficulty of differentiating market value from that of the price. The term market value refers to what the property is really worthwhile what it cost to buy it is referring to the price. Most of the times, price being paid do not represent that property’s market value.  This does happen in every market including the homes located in the Santa Maria real estate market.

After the appraiser had inspected your home, he will then make comparisons. The appraiser researches similar homes in your area to be able to compare the cost or the sales and from that comparison; he will determine the market value. Even the inside features of the home like for example appliances that are still working can affect the value of the home to be sold. All of these matters are being noted by the appraiser before issuing a final appraisal report.

As mentioned, an appraiser is far different from that of an inspector. For instance, an appraiser is making notes on how many appliances exist in a certain home without checking if it is working or not. Moreover, the inspector is in charge of checking whether the appliances are still functional or not.

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How To Avoid A Legal Issues When Buying A Home

Talking about real estate litigation, it is the routine of finding a legal method to disputes pertaining to real property. Reality is that sometimes disputes happen with those that are learning how to buy a home not just in the Santa Maria real estate market but every where. Keep in mind that it doesn’t really matter whether that particular property is in the stage of ‘developed’ or not. Often, this kind of litigation arises from disputes at the time of buying, financing, or property development.

Number of attorneys, more so in bigger metropolitan areas usually have expertise in this area and are fully aware of the complicated contracts that are associated with the real estate.

Contracts to buy real estate are one of the most common kinds of litigation. There is a strong possibility that the disputes may occur due to vague language in the contract, or because of the fact that both parties did not the read the contract in a proper manner. In this scenario, any contract breach may be settled out of court. If one party is not in favor of out of court settlement, then there is no other option than to go for a court hearing.

Real estate litigation is also going to happen when there are issues related to construction contracts. In few cases, the contractor and the real estate developer may have an issue regarding the project scope or the finished work quality. If the issue is pertaining to quality, it is the responsibility of a lawyer to gather proofs with the help of an expert. This expert is going to analyze the work and is going to give the comprehensive detail of it to the court.  Even some of the homes in Santa Maria have had issues where the homes were built on top of old oil sumps and the homes had to literally be demolished but of course this was the result of legal litigation.

If the money has already been given according to the contract, then the party concern may need to refund it partially or fully. Conversely, if money has not been given as yet, judge will decide how much one party needs to pay to another party.

When it comes to real estate litigation, financing disputes are pretty much a rarity, but there are cases when it does happen. For example, if two companies decide to share the financing cost and disputes occur, there is a good chance that one company may take the other company to court. If there is a written contract available, court is going to give the judgement on the basis of that. Further, if you are of the opinion that your mortgage lender has not been fair, you can go to the court. For this, you need to take the services of a property attorney.

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