Real Estate Knowledge Q&A

Real Estate Knowledge Q&A Q: What is Home Inspection? Why do I have to spend hundreds of yuan to do Home Ins when buying a house...

Real Estate Questions and Answers Q: What is a Home Inspection? Why do you have to spend hundreds of dollars on a Home Inspection when buying a house? Answer: Home Inspection allows home buyers to have a detailed and comprehensive understanding of the condition of the house. A qualified professional home inspector can provide you with an in-depth and impartial home inspection report. The report should record the condition of the structure of the house, list what needs to be repaired or replaced, and make an assessment of the condition of some major equipment, such as air conditioners, heaters, water heaters, etc. In Arizona's standardized home purchase contract, it is stated in advance that the home buyer has the right to have a professional home inspection within 10 days after the home purchase contract is established, and based on the inspection results, the home seller will be required to make improvements or make a decision on whether to purchase. Therefore, Home Inspection is a guarantee for home buyers. Q: What is REO? A: REO is the abbreviation of Real Estate Owned. Simply put, it is a house owned by a bank, also known as Bank Owned. Foreclosure is a house repossessed by the bank. Question: When buying a house, you must choose an area carefully. How can you know the economic and security conditions of a certain area, whether the environment is safe, etc.? Answer: A lot of information can be obtained for free on the Internet, such as: www.CrimeReports.com, www.FamilyWatchDog.us For these two websites, as long as you enter the address of the house you want to query, a map will display nearby criminal activity locations, photos of sex offenders, crimes, home addresses and other data. As for the economic and demographic status of the area, you can find information on the website www.BestPlaces.net. If you have any real estate questions, you are welcome to call the dedicated hotline (480) 612-4545 or email to Rich@RichLiao.com