Eugene Loan Guy

The list of key people keeps rolling out as we look at who is there to help the Oregon First Time Home Buyer with one of the most important transactions in their financial life, their first home purchase. This time, I am going to talk about the home inspector. And since I haven’t found any home inspectors that have been publishing on the internet regularily from the Eugene/Springfield area, I am going to give you links to some that have impressed me with their knowledge and willingness to share that knowledge in other areas.

The first of these is William Troutman in Indiana. He has some great posts that you can check out here. David and Bonnie Lelak from Atlanta are another company that does some excellent educating. Both of their knowledge of the home inspection process and willingness to share information with people put them head and shoulders under the house. (Little home inspector joke here.) Be sure and check out their blog, you will find out a lot of great information. I also like Jim Allhiser from Salem. He does some outstanding pictures showing things that will really spook you with water and mold. Take a look at Jim’s website here.

The home inspector and the appraiser (part 6) have different jobs. An appraiser determines value, while the inspector is to look for structural problems, defects or maintenance issues. The inspector is doing this strictly for the buyer’s sake. The lender is not concerned fi a faucet has a minor leak as long as the property is worth the sales price. Therefore, the lender does not normal require an inspection unless there is obvious health or safety issues.

So, an inspection is not required, but it is recommended. As a matter of fact, one of the forms in an FHA application package is one that says “For Your Protection: Get a Home Inspection.” Who knew that HUD was poetic.

If you have any questions about this subject or want to make an appointment to get the process started before the first time home buyer tax credit goes away, give me a call today at 541-342-7576/541-221-3455 or e-mail me.

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