fha: Home inspection- Home Appraisal why Important?
- 05/03/18 08:09 AM
What is the difference between a home inspection and a home appraisal? Bank Appraisal versus Home Inspection The home inspection is primarily intended to protect the prospective buyer from purchasing a home with structural defects and other major problems. The appraisal is meant to protect the buyer from paying too much for the home over market value. Home Appraisal An Appraiser takes into account the houses location, square footage, and selling prices of similarly sized houses located in the same area. The home appraiser usually addresses condition’s that are apparent or observable. Home Inspection A home inspector that is hired by the home buyer focus on … (2 comments)
fha: HUD’s is conducting a live auction of 150 HUD Homes in the Phoenix, Arizona
- 03/10/11 10:16 AM
March 26, 2011 – Phoenix, AZ. HudHome Auction. HUD’s is conducting a live auction of 150 HUD Homes in the Phoenix, Arizona area to owner occupant homebuyers who have not purchased a HudHome in the past two years and agree to occupy the property as their primary residence for a minimum of 12 months. Buyers may be able to utilize FHA insured financing for as little as $100 down, and HUD will pay up to 3% of the buyers closing costs. For more information and details on the auction and the properties that are available for sale, visit: http://www.hudhomestore.com/HudHome/Index.aspx or … (5 comments)
FHA helps individuals and families become homeowners by providing lenders with mortgage insurance for certain loans. FHA does not guarantee the value or condition of your future home, and FHA does not perform home inspections. If you find problems with your new home after closing, FHA cannot give or lend you money for repairs, nor can it buy the home back from you. That’s why it is so important for you, the buyer, to get an independent home inspection. Let Fred Sweezer Sr. thoroughly examine the physical condition of your future home and give you the information … (3 comments)
An FHA loan is a federal-assistance mortgage loan offered by qualified lenders and backed by the Federal Housing Administration.
During the Great Depression of the 1930s, soaring foreclosure and default rates led lenders to tighten their loan requirements to the detriment of the prospective homeowner. The FHA was created during this time to provide lending institutions (such as banks, savings and loan associations, and mortgage companies) with sufficient insurance to allow them to ease up on eligibility requirements for borrowers so that they could be approved for loans that they could not … (5 comments)
What is the difference between a home inspection and a home appraisal?
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