Home Loans – Would You Buy a Home Without an Inspection?

Written by Charles Essmeier

The housing market has exploded, with home prices rising beyond all reason in some markets. Home prices have doubled or tripled duringrepparttar last five years, and in some cities,repparttar 150558 asking prices for homes are considered only to be suggested opening bids. Homes often sell in a few days or even hours, and would-be buyers are tiring of losing out to higher bidders. In order to achieve an advantage over other bidders, some people are offering to buy homes without a professional inspection. What do they gain from such an offer? Is declining an inspection an OK thing for a buyer to do?

Traditionally, a professional home inspection is a valued component ofrepparttar 150559 home buying process. While inspections are rarely required by law, most buyers would prefer to have any home they might purchase inspected before committing to purchase. The inspectors look for problems with foundations, plumbing, wiring, and termite infestation. In addition, they often check to make surerepparttar 150560 home meets building, zoning, and easement codes. The fee of several hundred dollars, paid byrepparttar 150561 buyer, can turn out to be a bargain ifrepparttar 150562 inspection determines thatrepparttar 150563 home needs thousands of dollars in repairs. At that point,repparttar 150564 buyer can walk away fromrepparttar 150565 home or negotiate a financial compromise withrepparttar 150566 seller in hopes of havingrepparttar 150567 problem repaired prior to sale.

Moneynet warns credit rating at risk when consumers switch current account

Written by Rachel Lane

As Barclays Bank turns uprepparttar current account heat withrepparttar 150532 launch this week of a new, features-laden current account, online financial data analysis company Moneynet ( http://www.moneynet.co.uk ) warns consumers to look before they switch.

"Onrepparttar 150533 face of it,repparttar 150534 new current account offering from Barclays looks attractive,” said Moneynet Chief Executive Richard Brown.

“The bank has admitted it wants to poach customers from its competitors by rolling out a range of benefits that it claims are worth around £1,000 a year if you take advantage of them – but we feel borrowers should be very cautious when considering switching current accounts.

“Despite what lenders say, it is nothing like as straightforward as hopping from one credit card to another, and there is a real danger that account holders can jeopardise their all- important credit rating, as one ofrepparttar 150535 key questions asked by lenders as part of their credit scoring process is “how long have you held your current account?” – a short period of time with your bank could results in a reduced credit scoring.

"And there are one or two other issues withrepparttar 150536 Barclays offering:repparttar 150537 interest free overdraft facility andrepparttar 150538 interest free Barclaycard for ten months will probably appeal to people who want interest free borrowing. But with UK consumers now inrepparttar 150539 red torepparttar 150540 tune of around £1 trillion pounds, we feel concerned that lenders are inviting account holders to rack up yet more debt.

"If you do borrow money via this account,repparttar 150541 sensible option is to clearrepparttar 150542 debt withinrepparttar 150543 10 months’ time frame. And borrowers should also bear in mind that there are many products onrepparttar 150544 market offering interest free credit deals for at leastrepparttar 150545 same period asrepparttar 150546 Barclaycard proposition,” said Brown.

“We are likely to see a lot more accounts with bells and whistles such as this new offering from Barclays -repparttar 150547 current account market is worth billions torepparttar 150548 banks and is intensely competitive.

Cont'd on page 2 ==>
ImproveHomeLife.com © 2005
Terms of Use