March 25, 2011
A home inspection often means the difference between a sale and no sale, even if the deal that results isn't exactly what the owner expected. Buyers and sellers typically recognize the need for a home inspection. Still, it may put both sides of a sale on edge. Sellers fear the inspector will find something amiss that slashes the price. Buyers fear the house they want will have problems. Today, with so many houses for sale, inspections have become the chief tool for haggling over price.
January 13, 2008 |
Buyers are getting pickier about the condition of the houses they'll consider, understandable given the number of possibilities available for them to choose from. But their concerns go much further than overgrown hedges or chipped paint on the front porch. Buyers are again asking about lead in the paint and water, asbestos, radon, indoor air quality, and mold - questions many appeared to put aside when competition for houses was the stuff of bidding wars. Avoiding things that might cause chronic illness doesn't always seem to be the prime motivation.
April 25, 1999 |
Although many real estate agents continue to accuse them of "killing" deals, home inspectors have become an important ally in the buyer's search for quality housing. "You may not be able to negotiate with the seller to fix all the problems that are found, but at least you'll know the full extent of the home's trouble areas and what the financial impact of repairing them will be," said Donald Dugan, who recently traded up from a Northeast Philadelphia rowhouse to a detached single in Warminster.
September 19, 1999 |
Getting a home inspection has become standard operating procedure for buyers. Since 1980, the percentage of home sales that were contingent on a home inspection has increased from 5 percent to probably 75 percent nationally, according to the American Society of Home Inspectors. It is less a part of a home seller's repertoire, but there are signs that this may be changing. A growing number of sellers appear to be worried about hidden defects that could be serious enough to delay settlement or even kill a deal when the buyer's inspection uncovers it. "We've seen a large increase in the number of seller[-originated]
September 11, 1992 |
Even though a home-warranty contract may be the best way to insure against unwanted surprises, a home inspection is the next best thing. "I tell them to get a home inspection for an 'out' if something goes wrong," Leonard A. Sloane, a Delaware County attorney, says, referring to both the buyers and the sellers who seek his representation. "Typically, there's a clause that the buyer will have a right to get a home inspection within 10 or 15 days of signing the agreement. "If the inspection finds things wrong, or in excess of usually $1,000, certain things are triggered.
March 22, 1996 |
Several major city banks are expected to bow to pressure from Mayor Rendell's administration to pay for home inspections on properties purchased by low-income buyers - but only if the city agrees to pay to fix any problems uncovered. The agreement would benefit thousands of lower-income homebuyers who receive $1,000 settlement assistance grants from the city, and help many avoid falling behind in mortgage payments because of unforseen repairs. The banks - PNC/Midlantic, CoreStates/Meridian, Mellon, Beneficial Savings, Commerce and First Union (formerly First Fidelity)
July 8, 2012 |
Mortgage rates are at historic lows, but borrowing terms are strict and home prices are still down. So selling a house requires strategy and, often, artistry. Let these Web resources assist you. Reader's Digest says to be sure to pick a real estate agent with an aggressive online presence for listed homes. In particular, that means providing online shoppers with more than six photos of a listed property. Owners should also "post a video love letter about your home on YouTube," Facebook your listing and invite neighbors to a block-party open house to get them to recommend your property to their friends who might be looking to move into the neighborhood.
January 24, 2003
It's bad enough the city has to reverse decades of blight caused by abandonment, urban decay, bad schools, crime and economic hard times. The Street administration also must contend with another, growing contributor to neighborhood decay - mortgage scammers and predatory lenders. That group includes those who misuse low-interest federal loans to lure poor, often bad-risk buyers, into mortgages they cannot afford. The scammers buy houses at low prices reflecting their bad condition, and then sell them at inflated prices.
December 11, 1998 |
Who would believe a $1,000 city grant could buy so much? Maryetta Logan used the money to become a homeowner, which helped stabilize her life and the Frankford neighborhood where she now lives. Without the grant, Logan, who is recovering from alcohol and drug abuse, would probably still be renting, and the youngest of her five kids might still be in foster care. The dilapidated house she purchased and renovated for $50,000 would probably be an abandoned eyesore. Logan, 41, is one of about 9,000 people who have received $1,000 grants since the Philadelphia 500 program began five years ago. The original goal - 500 grants - was reached before the program's first year ended in 1993, according to founder John Kromer, director of the city's Office of Housing and Community Development.
October 3, 1991 |
There's only one good thing about today's depressed housing market - it has to pick up eventually. When it does, The Home Buyer's and Seller's Survival Kit (90 minutes, $29.95) from Fisher Education Co. would be a good investment for consumers seeking guidance. Residential real estate is a complex topic, and no single videotape can cover it all. Even the basic yet detailed information spread over 90 minutes here is too dense to master in a single viewing. The program is essentially a long lecture, and as such the producers faced a challenge in achieving enough visual interest.