A fee collected through escrow, and payable at close to a home inspector, to determine the present physical condition of a home. This is required by the lender and used as supplemental information found in the appraisal.

This fee is not marked up by your mortgage broker and your mortgage broker is not allowed by law to make a profit off of these 3rd party fees.

If something is found to be wrong with the home, the seller will normally pay to have this problem or problems repaired prior to the loan closing.

When buying a home it is always a good idea to pay for an inspection on the property.

Home inspections are not in all states a requirement of the lender, it is however wise when buying a home to have a home inspection preformed to tell you exactly what you will be getting yourself into as far as future repairs and cost.

 

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