When you get to the end of the closing process, deals can fall apart at the last moment. Reasons include the buyer’s failure to secure financing through a mortgage loan (one of the reasons that it’s imperative for you to obtain pre-approval for a loan before getting yourself too far into the home-buying process) as well as a low home appraisal, and yes, a home inspection gone awry. If major physical damage is revealed during the home inspection, the deal could be called off. This shouldn’t be all that surprising, however. If a home is considered structurally unsound or unsafe to live in, then there’s a good chance the deal won’t move forward, and the purchase will fall through. But you can avoid this pitfall of the home deal falling apart at the last minute because of a home inspection by inspecting the home before closing — both you checking out the property in person, as well as hiring a professional home inspector to conduct an official inspection and report. Yes, the seller will have done this from their end, but you also need to do your due diligence and do this from your end as well. WHAT TO EXPECT During this process, different specialists will examine the house to determine its condition and the viability of all the house systems. After the inspections, you’ll receive a report on the state of the house. The report will contain suggestions on future maintenance or repair steps, or the need for additional expert opinion — for example, a structural engineer will be recommended should the inspection disclose faults within the building structure, or an HVAC (Heating, Ventilation, and Air Conditioning) expert will be recommended if the furnace is old or outdated, and isn’t in proper working order.
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