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Bryan Mobley Real Estate Inc.  
One North
Charles Street  
Baltimore,  Maryland  21201  
Phone:410 385-5850  
Fax: 410 385-5851  

HOURS:  
Monday ~ Friday / 9:00am ~ 5:00pm  






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: FAQ's





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Inspection Checklist

Inspection

The typical home inspection will take about 2 hours!

It is advisable that you, the home buyer attend the home inspection.

Even though you will be given a comprehensive written report. It may be necessary to see many of the items to get a better understanding when you read your report.   

 

You are encouraged to ask questions. Be sure to bring pen and paper.

 

The home inspection it self is designed to assist you in assessing the overall condition of the property you are preparing to purchase.

 

Exterior

 

Upon approach of any home or building you should be use the opportunity to view the overall structural condition.     

a)      Walls-should be looking at the walls for straight lines (signs of bowing could be an indication of structural problem)

1.      Brick walls –should look for cracks in the bricks and mortar (hairline                                                                                                                                                                     cracks are common)

2.      Siding- should looking to verify that all siding is secured to the building

 

b)      Steps- the steps should be level and each step should have even step height

 

c)      Porch & Deck- the surface should be level

 

           1.   Concrete surfaces should be intact, not crumbling

 

           2.   Wood surfaces should be free from decay

 

3.      Safety rails should be installed

  

d)      Windows- windows insulated, free from loose paint

 

e)      Doors- look for obvious gap around the door and the door frame

 

f)        Grading- the highest point of the dirt around the foundation wall should be the wall and slope away from the home

 

g)      Vegetation- are there large trees very close to the house (the roots could damage the foundation wall)

 

Roof

Where feasible, the home inspector will physically walk on the roof to get a close look at the roof surface, any flashing ,chimney , skylights and antennae.

 

a)      Shingles- shingles should be flat

b)      All structural lines should be straight

c)       Does all roof top structures appear to be secured.

d)      Is there proper ventilation

 

      Interior

The interior inspection should start at the front door and include all living spaces, also the basement and attic where accessible. This will include checking the proper operation of all doors, windows and the condition of all interior surfaces such as the walls, floors ceiling and interior staircases. Any deficiencies will be noted and the inspector should try to determine the most effective corrective action.

       The deficiencies in the attic and basement could include any thing from signs of wood destroying insects to evidence of water intrusion.

 

   Utilities

The home inspection should include testing of all of the utilities.

a)      Electrical- a reasonable # of electrical outlets should be tested for the                                                                                                                                                                              proper voltage and the correct wire connections, it should be identified whether there are fuses or circuit breakers and the buyer should be shown where the main panel is located.

b)      Plumbing- the inspection should reveal the type of pipes and condition of the plumbing through out the house and sewage side should be checked and thorough as possible.

c)      Furnace and A/C- the furnace and A/C should be physically checked for any obvious defects and the systems should be operated if possible.  

 

Appliance

 

               All appliances should be operated. With the permission of the seller.

 

Conclusion

 

At the conclusion of the inspection the buyer should have a better understanding of the home they are purchasing. This is also the time to discuss with the inspector any question that may still linger in there mind concerning any thing that may have been discuss in the course of the home inspection. 




Finding the Right Home

What should I consider before purchasing…

Even before starting to look at houses, find out what price house or condominium you can afford. In general, you can afford to buy a home equal in price to three times your gross annual income. More precisely, the price you can afford to pay for a home will depend on six factors: 1. your income; 2. the amount of cash you have available for the down payment, closing costs and cash reserves required by the lender; 3. your outstanding debts; 4. your credit history; 5. the type of mortgage you select; and 6. current interest rates.


Financing

Are there first time buyer discounts?

Numerous programs exist to help first time buyers purchase a home. A host of private lenders offer low-down payment loans. The U.S. Department of Housing and Urban Development offers a variety of programs through FHA that require approximately 4 to 5 percent cash down. Loan limits vary depending on the county where the property is located. Fannie Mae has a program allowing people to buy with just 3 percent down payments. For details, borrowers should contact lenders who offer government-insured loans.


Sales Price

How is the price set?

It's critical to price your home right in relationship to the current real estate market and to the conditions prevailing in your local marketplace. Since the real estate market is continually changing, and market fluctuations have an effect on property values, it's imperative to select your list price based on the most recent comparable sales in your neighborhood. A Comparative Market Analysis (CMA) provides the background data on which to base your list price decision. Study the comparable sales material presented to you by the different agents you interviewed initially. If the CMAs are over two or three months old, have your agent update the report for you. If all agents agreed on a price range for your home, go with the consensus. Experts recommend that more than one agent come and do the analysis. Watch for an agent whose opinion of value is considerably higher than the others.


Purchase Price

What is the difference between prices?

A seller's advertised or list price should be treated as only a rough estimate of what he or she would like to receive. Some deliberately overprice, while others ask for close to what they hope to get, and a few actually underprice their houses with hopes that potential buyers will compete and overbid. The appraisal price is another estimate of value. The appraised price is how much money a professional appraiser estimates the home to be worth and usually is based on comps, or sales of comparable homes in the same area. Purchase price and sales price are the same thing. Both terms mean the amount of money the successful buyer actually pays out to purchase the home.


Purchase Offer

What are contingencies in a purchase?

There are two standard contingencies: a financing contingency, which makes the purchase conditional on the buyers' ability to obtain a loan commitment from a lender, and an inspection contingency, which allows the buyers to have professionals inspect the property to their satisfaction. A deposit could be forfeited by the buyers under certain circumstances, such as the buyers backing out for a reason not provided for in the contract. The purchase contract must include the sellers' responsibilities such as passing clear title, maintaining the property in its present condition until closing, and making any agreed upon repairs to the property.


Disclosure

What is a seller obligated to disclose?

It varies from state to state. Under the most restrictive state, the seller and the sellers' broker, if there is one, are required to disclose all facts materially affecting the value or desirability of the property which are known or accessible only to him and which are not known to, or within reach of the diligent attention and observation of the buyer. In the case of residential properties, the seller must provide the buyer with a Real Estate Transfer Disclosure Statement, which specifies the existence and condition of all known physical attributes of the property. Sellers are responsible for disclosing only information within their personal knowledge.


When to Sell

When is the best time to sell?

In addition to supply and demand, and other economic factors, the time of year you choose to sell can make a difference both in the amount of time it takes you to sell your home and in the ultimate selling price. Generally, the real estate market picks up as early as February, with the strongest selling season usually lasting through May and June. With the onset of summer, the market slows. July is often the slowest month for real estate sales due to a strong spring market putting possible upward pressure on interest rates. Also, many prospective home buyers and their agents take vacations during mid-summer. Following the summer slowdown, real estate sales activity tends to pick up for a second, although less vigorous, season which usually lasts into November when the market slows again as buyers and sellers turn their attention to the holidays.


Closing Cost

Who pays closing cost?

Closing costs vary from one transaction to another and often total in the thousands of dollars. They may be paid up front or added to the buyer's loan balance. However, anxious sellers may offer to pay some or all of the costs to induce a sale. Here are some basic rules of thumb concerning closing costs: Historically, if one or more real estate agents are involved, their commissions are traditionally based on the sales price and paid by the seller at the time of closing. In recent years, buyers have paid for agent services in some cases.





 

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