Want to own a home but cannot qualify for a loan? You are not alone. Despite a struggling housing market, or perhaps because of it, more and more individuals are finding it impossible to qualify for a mortgage. If your friends are in the same boat, why not buy a home together? After all, with the high cost of rent, you are likely to have a mortgage payment with half the cost. However, it can lead to friendship troubles. Make sure you get an ironclad agreement before you sign any loan documents rather than any verbal agreements. Ensure you find a friend that is completely trustworthy.
Before making any proposals, insist on
Atlanta home inspectors to verify the structural integrity of the home. This is particularly important when you are buying with a friend because it is difficult to pay for repairs. If you are willing to make a few repairs, use the home inspector’s report to predetermine who will pay for which repairs and when it will be completed. Alternatively, you could each agree to pay half of all repair bills. Whatever agreement you come to, do not rely on verbal commitments. It is highly advisable to put every agreement on paper. Friendship house buying becomes a business investment and it should be treated as you would a business deal.
If you are thinking about buying a home as-is, you might want to reconsider. As-is does not only release the seller from having to make repairs, it releases them from any liability about the home’s condition. That being said, as-is does not necessarily mean that the home has major issues. The only way to know for sure is to get a thorough inspection before signing any paperwork. So, trust a professional home inspection firm with certified
Atlanta home inspectors to give you sound advice on your potential new home.
Depending on where you live, experienced
Atlanta home inspectors will come to your home, do the inspection, and give you a point by point report of their findings.
Atlanta home inspectors reporting results are usually delivered within 24 hours of the home inspection. They will also make recommendations on how to maintain your home to avoid major problems. A home inspection can give you true peace of mind when it comes time to put your home on the market.
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