someone to remove the infestation, that’s a sign to walk away. If the problem revealed by the home inspection is something that needs to be addressed right away, but is too expensive for you to do so, then walk away. If the issue revealed could lead to a ripple effect of creating other problems, which will be difficult to analyze and estimate costs for, then walk away. Carefully consider all the pros and cons of what the home inspection discovers. Work together with your agent to figure out the best course of action. Your agent should be well versed in these types of situations, and will be able to advise you accordingly. Further, listen to your gut! If the doubts and uncertainties are too overwhelming and anxiety-inducing, it’s probably better to turn down the deal and start over. “If you do decide to buy a home with a serious problem, get several quotes to find out what the issue will cost to fix,” suggests Christie Bieber at Fools.com. “Don’t ballpark the cost; the last thing you want is to take a $200 credit for a curled roof shingle, only to find out that the underlying problem requires a $10,000 roof repair. If the seller is going to solve the problem, confirm that a qualified and licensed contractor is doing the work, so the seller doesn’t do a low-cost patch-up job that gives you problems the minute the paperwork is signed.” 2. THE HOME APPRAISES FOR LESS THAN YOUROFFER While a home inspection reveals the condition of the home, a home appraisal determines the value of the home. In some cases, an appraisal will show that the house is worth less than what you offered. If you continue with the deal, this means two things: 1) you’ll be overpaying; and 2) you’ll have to come up with a larger down payment. For example, “the bank will typically only lend you 80% of the
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