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The Results Are In! November 14, 2012

There is a lot to account for in the home buying process. Most of it I still am not aware of because my husband is handling it. There is the process of getting a loan pre-approval, making an offer, and getting the loan approved. As well as having the pest and home inspections done.

We are in the midst of everything. As I mentioned before, we placed and offer which was approved. The pest report was already done on this house and the seller agreed to clear the report for us. This means that they are going to have a professional come in and fix all damage and apply a chemical treatment required.

Ash is a veteran so we are using his VA benefit to buy the house. The VA has a lot of requirements, one of which is there cannot be any section one items on the pest report. The house must have a clean bill of health before the close of escrow or the loan will not fund. So we are very happy that the seller is clearing the report for us.

Over the weekend we had the home inspection completed. The inspector was very through and informational. Home inspections are done to benefit the buyer. It tells you all the information about the roof, crawl space, meters…… everything! The process is pretty easy too.

Our Realtor called to arrange the inspection because we did not have a person whom we wanted to use. The inspector was let into the house and given a few hours alone to go over everything. We came to meet him later in the day to do a walk through with him. He walked the outside of the house showing us where everything is, what could be a problem down the road and any good things that he notices. For example, the roof was sealed to be able to handle snow. Of course we don’t get snow, but it is nice to know that it is covered that well,

Once the walk outside is complete he walked through the inside and garage with us. We got informed on which outlets are GFI and which are grounded. The inspector also told us what was to California housing code and how to correct the things that are not.

Later in the day we received a typed detailed report containing all the information we talked about and pictures of things that he showed it.

We are very glad that it is a part of the home buying process! Now we just have to wait for the appraisal of the house to be completed. The appraisal is important because if the appraisal value is lower that the price you offered on the house it causes problems.

Wait…. While writing this I received a call. The appraisal has come back. The house appraised for $5,000 less than what we offered. The next step is to submit a change of offer, lowering out offer to match the appraisal. I hope that they approve it…. keep your fingers crossed!

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