The Hungry Home Inspector by P Nathan Thornberry :: Why Some Inspectors are Always Hungry for More While Others Just Go Hungry

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The Hungry Home Inspector

Why Some Inspectors Are Always Hungry For More
While Others Just Go Hungry

Chapter 4

Inconvenient Truths

Darth Vader was Luke Skywalker's Father.  
That means he kissed his sister inapproprietly. Ewe.

It’s inconvenient that most people need a mortgage. It’s built into our system now, no turning back.

Oh, wait! It’s a great thing that the home mortgage exists! If we didn’t have mortgages, where would we be? A lot smaller houses, that’s for sure…and probably far fewer of them. Even with mortgages that had huge down payments and were done locally and had five-year balloon payments, the world was very different. Take 20% of the mortgage ability off the top and we’re back to the days when grandma lived in the den and the kids stayed home until they married. It’s an inconvenient truth that mortgages exist because of the regulations that come with them. Appraisals are a nightmare today. Approvals can be yanked at the last moment and our bank-owned real estate inventory is truly problematic for our country. They’re also inconvenient for real estate agents. Mortgage guidelines, federal regulations, and the Real Estate Settlement Procedures Act make the agent’s job very defined, frustratingly so.

They represent their client, whether it be a buyer or a seller. It’s a tough situation to deal with when you have a buyer who’s made an offer on the property, it was accepted, and then the appraisal comes in low. What happens now?