U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Florida > Tampa Bay
Tampa Bay Tampa - St. Petersburg - Clearwater
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Old 01-21-2012, 01:17 PM
38 posts, read 57,979 times
Reputation: 19


Just offered on a house which is financially a stretch. Hopefully I'll get approved just like the pre approved letter says but when should I have the inspection done? Should they appraise it first or should I have an inspection done? Of course I don't want to be out 400 for an inspection if I annoy get it. Thanks in advance.
Reply With Quote Quick reply to this message

Old 01-21-2012, 01:34 PM
2,719 posts, read 4,404,597 times
Reputation: 2326
If you are not sure whether you could be approved or not when normaly banks approve for more than what you should be buying, then indeed you are stretching yourself and that's a bad idea. But that's your choice. Why inspection is costing 400?

The answer is it depends. Normally, the inspection is before the appraisal since if you have major issues that the seller won't address, you would abviously back out of the aggreement without further expense, which is the inspection. OTH, if the appraisal comes lower than the asking, either the seller has to lower price or you have to come up with extra money to address the gap.
Reply With Quote Quick reply to this message
Old 01-21-2012, 03:03 PM
5,453 posts, read 7,784,209 times
Reputation: 2141
1. Do not buy a house that you don't feel comfortable financially with. You have to pay a price that you should be able to afford should you loose your job, and/or if having a lower paying job! The house "price" is just the BEGINNING as far as owning a home is concerned! What about homeowners insurance? taxes? maintenance?
2. Get the appraisal. If the house doesn't appraise for the asking price then they're trying to ********* over.
3. DEFINITELY get an inspection (if you can).

The appraisal is ordered by the lender after you made an offer. IF the appraisal doesn't come to the asking price, then the sellers need to reconsider the asking price. The inspection is optional after all that is squared up. BUT If it is a short sale, or foreclosure it may be sold "as it" so even if you want an inspection you many not get to do one.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.

Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply

Loading data...
Based on 2000-2016 data
Loading data...

Hide US histogram

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Florida > Tampa Bay
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top