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Over the past two years, houses nationwide were going like hotcakes, with sellers often receiving tens or even ...<br>
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There have been situations where people have purchased a home thinking the garage door would be arriving after they moved in, but it was never finished,” he said. “It’s worth the money to get the inspection so homeowners can have a full punch list of items to be completed before they close on the property.
Experts Warn Homebuyers of Red Flags Beyond Climbing Interest Rates Over the past two years, houses nationwide were going like hotcakes, with sellers often receiving tens or even hundreds of thousands of dollars over the asking price. Buyers often waived inspections and picked up some of the sellers’ costs in dire hopes of securing that coveted single-family home.
While the landscape has now changed because of higher interest rates, many parts of the country are still seeing bidding wars, and home prices aren’t yet experiencing a sharp decline. With inventory still lower than normal, many buyers remain hungry for a piece of the American Dream. However, some experts are cautioning would-be homeowners about quickly jumping into the home-buying pool without doing their homework first.
A home in New York with a misaligned gutter. (Courtesy of Mark’s Inspections, New York)
I know there’s still an urgency for people to want to jump into the market, but they need to make sure they’re putting themselves in a proper position for the future,” he told The Epoch Times. “And if they do decide to proceed, they always want to have a home inspection so they can understand exactly what they’re buying.”
