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<blockquote data-quote="Retired Educator" data-source="post: 288116" data-attributes="member: 3373">Very few can purchase a house today without a loan. Lending institutions are going to require some type of insurance that the property they are loaning for is worth the amount they are loaning. Haven't sold or purchased a home for several years and don't know about any disclosure papers but I do know that &quot;Home Inspections&quot; are common. Home inspections are supposed to find any preexisting problems that need attention. I would not buy a home, new or used, without an inspection. Would hate to buy a different home and once I was moved in find several issues that need to be fixed. Kind of like buying a used truck with a warranty or as is. If I was making the loan I would for sure required some kind of assurance that the property was worth the amount I'm loaning. Home inspections can help protect the buyer as well as the seller. If something is found that needs repair the agreement can be either for the seller to fix to insure the asking price is valid or for the buyer to fix at a reduced selling price.</blockquote>

[QUOTE="Retired Educator, post: 288116, member: 3373"] Very few can purchase a house today without a loan. Lending institutions are going to require some type of insurance that the property they are loaning for is worth the amount they are loaning. Haven't sold or purchased a home for several years and don't know about any disclosure papers but I do know that "Home Inspections" are common. Home inspections are supposed to find any preexisting problems that need attention. I would not buy a home, new or used, without an inspection. Would hate to buy a different home and once I was moved in find several issues that need to be fixed. Kind of like buying a used truck with a warranty or as is. If I was making the loan I would for sure required some kind of assurance that the property was worth the amount I'm loaning. Home inspections can help protect the buyer as well as the seller. If something is found that needs repair the agreement can be either for the seller to fix to insure the asking price is valid or for the buyer to fix at a reduced selling price. [/QUOTE]

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