Mortgage Finance: Home Inspection

 

 
 

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Home Inspection
HOC believes that the purchaser should be aware of the condition of the property and its systems prior to purchase in order to make an informed purchase.
  • HOC requires the purchaser to have a home inspection for resale (previously occupied) properties.
  • The sales contract should contain a contingency for a satisfactory home inspection.
  • The purchaser hires the home inspector.
  • The home inspector should be a licensed professional.
  • The home inspection is different from the lender’s appraisal.
  • The purchaser pays for the home inspection.