20 Sep

What’s Being Done About Title Fraud?

General

Posted by: Jennifer Koop

What’s being done about title fraud?

Your home is one of the greatest investments you’ll make in life. The idea of something happening to it is one of the worst images you can have as a homeowner. You can protect your property from damage or even break-ins, but identity thieves can threaten your ownership.

Title fraud can leave you out tens or even hundreds of thousands of dollars. Depending on what the fraudster is after, you could lose your equity, or even your home.

FCT is committed to protecting homeowners by catching fraud before it happens, providing education on fraud prevention, and stepping in to prevent losses if a scam succeeds.

a quick breakdown of title fraud

Title fraud starts with stealing a homeowner’s identity, then follows one of two main paths:

PURCHASE TITLE FRAUD

  • Someone impersonates a homeowner to sell their property.
  • To the innocent buyer, it looks like a regular home sale. The “seller” often has property access as a tenant or AirBnB guest and can show buyers around.
  • The fraudster disappears after a quick sale, usually for below market value.
  • The homeowner often learns about the fraud when the buyer attempts to move in.

Depending on where you live, what happens next can be different: In B.C., the innocent buyer gets to keep the house, while in Ontario, the homeowner gets to keep it. In either scenario, someone is left with no home and without the equity to buy another.

MORTGAGE TITLE FRAUD

  • Someone impersonates a homeowner to take out a mortgage on their property.
  • To the lender, it just looks like the homeowner wants to refinance or take out some home equity.
  • The fraudster walks away with the money, sometimes making a few payments on the new mortgage to cover their tracks.
  • The homeowner often learns about the fraud when the fraudulent mortgage goes into delinquency and the lender starts to take action.

Title fraud fact: Did you know that seniors are especially vulnerable to title fraud?

If you’re the homeowner, you can’t sell your property or take any equity out of it until your title is restored. This usually means tens of thousands in fees.

An underwriter at FCT recently caught an attempted mortgage title fraud in a town near Calgary. After spotting an issue with one piece of ID in a routine refinance deal, she flagged it with the team’s Certified Fraud Examiner (CFE), who investigated and confirmed the fraud. Someone was pretending to be the homeowner and taking $400,000 out of the property. We put a stop to that deal.

how is fct protecting homeowners?

To FCT, being protected means having peace of mind. Here are just some of the ways we’re making sure homeowners have that:

WATCHING DEALS

Our underwriting team identified $350 million in suspicious transactions in 2022, from residential deals alone. The team monitors for the red flags we’ve identified over three decades of experience, and prevent hundreds of millions in losses every year.

EDUCATING OTHERS

We aren’t the only ones working to protect consumers. Lending and legal professionals across Canada are stepping up to educate themselves about title fraud and how to help prevent it. We provide free seminars, articles and videos to both professionals and the public—the more everyone knows about title fraud, the harder it gets for the fraudsters.

TAKING RESPONSIBILITY

When FCT looks at a deal, it’s because a lender, legal professional, or homebuyer wanted to protect it with title insurance. That protection means that the buck stops with us. If we don’t catch a fraudulent deal before it goes through, we’re the ones who pay for it, not you.

Beyond the coverage, every policy we issue carries a duty to defend. That means if there’s a possible fraud, we step in to navigate the process on your behalf. We take on the work and costs it takes to make you whole, hiring investigators, retaining counsel and even going to court so that you don’t have to.

The threat of fraud is on the rise, but you don’t have to face it alone. Learn more about title fraud by following the links in this article, and if you don’t have title insurance yet, get protected now. It takes minutes to do, and lasts for as long as you own your home.

Insurance by FCT Insurance Company Ltd. Services by First Canadian Title Company Limited. The services company does not provide insurance products. This material is intended to provide general information only. For specific coverage and exclusions, refer to the applicable policy. Copies are available upon request. Some products/services may vary by province. Prices and products/services offered are subject to change without notice.

®Registered Trademark of First American Financial Corporation.

Published by FCT

Contact us for all your mortgage needs 705-349-0502

20 Sep

Alberta title fraud caught: why expertise matters

General

Posted by: Jennifer Koop

Alberta title fraud caught: why expertise matters.

Think title fraud is just a risk in places like Toronto and Vancouver? Think again. FCT just prevented $400,000 of fraud in a city of 20,000.

It seemed like a standard refinance deal from a community east of Calgary, just a homeowner leveraging some of their equity. But the owner had nothing to do with the deal.

The underwriter working on the transaction spotted an issue with one of the ID pieces she received. She escalated the issue to the Certified Fraud Examiner (CFE) on our underwriting team. Our CFE quickly noticed more issues with the “owner’s” ID, and with the deal in general.

A fraudster had impersonated the homeowner and was trying to walk away with almost half a million dollars, leaving them with the monthly mortgage payments. We quickly put a stop to the transaction and notified the lawyers involved in the deal.

what would have happened if the fraud succeeded?

Imagine being that homeowner if there hadn’t been experts looking at the deal and asking the right questions. Restoring an owner’s title can take tens of thousands of dollars—that expense would have fallen on the owner out of nowhere. How many homeowners have enough money ready to handle that kind of emergency?

Cases like this show just how important it is to work with experts in fraud prevention on every deal. The perception that fraud is an Ontario-only threat gives fraudsters more room to maneuver in other regions. Homebuyers and real estate professionals across Canada need to stay vigilant as the rate of fraud rises.

Remember, there’s at least one fraudulent deal every week. How will you know if your deal is that attempt?

how to protect yourself against title fraud

Whether you’re a homeowner, homebuyer or legal professional, you need protection against title fraud. The consequences can be disastrous: consumers can be out tens or hundreds of thousands of dollars, and without a way to compensate for that loss, the fraud poses a risk to the legal professional who conveyed the deal, as well.

WORK WITH THE EXPERTS

The best way to protect against the consequences of fraud is to stop it in its tracks. FCT’s underwriters identified $350 million in suspicious residential transactions in 2022 alone. We have the experience and the expertise to help keep consumers and professionals alike safe.

TITLE INSURE EVERY DEAL

If a fraudster succeeds, title insurance is often the only recourse to make victims whole. It can cover claims in the hundreds of thousands, and carries a duty to defend. That means FCT takes on the responsibility of resolving the situation—hiring investigators, retaining counsel and arguing the case in court if need be.

Learn more about residential title insurance.

With such a high rate of fraud, there really is no substitute for title insurance. As a legal professional, any deal that comes in could be a scam. As a homebuyer, any home listed for sale could have been listed by a fraudster.

Title fraud is rising—don’t leave yourself at risk. Rely on the experts and the protection of an existing homeowner’s policy from FCT.

Insurance by FCT Insurance Company Ltd. Services by First Canadian Title Company Limited. The services company does not provide insurance products. This material is intended to provide general information only. For specific coverage and exclusions, refer to the applicable policy. Copies are available upon request. Some products/services may vary by province. Prices and products/services offered are subject to change without notice.

®Registered Trademark of First American Financial Corporation.

Published by FCT

 

Contact Jennifer Koop, Recommended Mortgage Agent in Huntsville, Muskoka for all your mortgage needs 705-349-0502

12 Sep

How Job Loss Affects Your Mortgage Application

General

Posted by: Jennifer Koop

How Job Loss Affects Your Mortgage Application.

Whether you’ve made an offer on a home already or are still in the process of looking, you already understand that buying a home is likely the largest investment you’ll ever make.

When it comes to your mortgage application, there are a few things that you should avoid doing while you’re waiting for approval – such as making large purchases (i.e. a new car), applying for new credit, pulling additional credit reports, etc. Another issue that can come up is the loss of your job.

What you can afford to qualify for in relation to your mortgage depends on your income. As a result, the sudden loss of employment can be quite detrimental to your efforts. So, what do you do?

Should You Continue With Your Mortgage Application?

If you’ve already qualified for a mortgage, but your employment circumstances have changed, your first step is to disclose this to your lender. They will move to verify your income prior to closing and, if they have not been told in advance, it may be considered fraud as your application income and closing income would not match.

In some cases, the loss of your job may not affect your mortgage. Some examples include:

  • You secure a new job right away in the same field as previously. Keep in mind, you will still need to requalify. However, if your new job requires a 3-month probationary period then you may not be approved.
  • If you have a co-signer on the mortgage who earns enough income to qualify for the value on their own. However, be sure your co-signer is aware of your employment situation.
  • If you have additional sources of income such as income from retirement, investments, rentals or even child support they may be considered, depending on the lender.

Can You Use Unemployment Income to Apply for a Mortgage?

Typically this is not a suitable source of income to qualify for a mortgage. In rare cases, individuals with seasonal or cyclical jobs who rely on unemployment income for a portion of the year may be considered. However, you would be asked to provide a two-year cycle of employment followed by Employment Insurance benefits.

What Happens During Furlough?

If you did not lose your job entirely but have instead been furloughed or temporarily laid off, your lender may take a wait-and-see approach to your mortgage application. You would be required to provide a letter from your employer with a return-to-work date on it in this situation. However, if you don’t return to work before the closing date, your lender may be required to cancel the application for now with resubmitting as an option in the future.

Have You Talked to Your Mortgage Professional?

Regardless of the reason for the change in your employment situation, one of the most important things you can do is contact Jennifer Koop, your Dominion Lending Centres mortgage expert directly to discuss your situation. She can look at all the options for you and help with finding a solution that best suits you.

Contact us today for all your mortgage needs, 705-349-0502

Published by the DLC Marketing Team

7 Sep

Unlocking Home Equity: The Benefits of a Reverse Mortgage vs a HELOC

General

Posted by: Jennifer Koop

Unlocking Home Equity: The Benefits of a Reverse Mortgage vs a HELOC.

Do you need help to meet your retirement income needs? With rising inflation, accessing sufficient cashflow for your desired lifestyle can be challenging. However, with over 70% of Canadians owning their homes, tapping into home equity can be the cashflow solution you need.

Tapping into Home Equity

If you want to remain in your current home, a home equity line of credit (HELOC) and a reverse mortgage are two of the most popular ways to access your home equity.

Take out a HELOC. HELOC lenders typically allow you to access up to 65% of the value of your home. You can borrow money as needed (based on an agreed-upon amount) and are only required to make minimum monthly interest payments on the amount taken out. Unlike traditional mortgages, there is no obligation to make scheduled payments towards the line of credit, and you have the freedom to repay the line of credit at your convenience.

Get a reverse mortgage. Another way to access the equity in your home is through a reverse mortgage. If you’re a Canadian aged 55 or better, the CHIP Reverse Mortgage by HomeEquity Bank allows you to access up to 55% of your home’s value and turn it into tax-free cash. There are no monthly mortgage payments while you live in the home; the full amount only becomes due when you move or sell your home. You can receive the funds as a lump sum or in regular monthly deposits. You can use the cash for any financial needs, including health care costs, home renos, debt consolidation or lifestyle expenses.

Advantages of a reverse mortgage

One of the biggest advantages of the CHIP Reverse Mortgage is that there are no monthly payments, but there are many more! Here are some of the other benefits of the CHIP Reverse Mortgage:

  • Simplified underwriting. The proceeds of the CHIP Reverse Mortgage are not based on income but on your age and the value of your residence.
  • No need to requalify. A regular HELOC from a bank may subject the borrower to continuous credit score checks over time, affecting the ability to access a HELOC when needed.
  • Spousal impact. The death of a spouse does not affect a reverse mortgage, unlike a HELOC, which may trigger the bank to review the credit score and income of the surviving spouse.
  • Rate stability. For fixed-rate terms, the reverse mortgage rate remains locked for the term, while HELOC rates fluctuate with the Bank of Canada’s prime rate, potentially increasing borrowing costs.

Contact Jennifer Koop, your Dominion Lending Centres mortgage expert to learn how the CHIP Reverse Mortgage can help you boost your retirement income.

Published by HomeEquity Bank

Contact us today for all your mortgage needs, 705-349-0502

6 Sep

Find Your Perfect Home Type

General

Posted by: Jennifer Koop

Find Your Perfect Home Type.

When it comes to finding your perfect home, there are so many more options for potential homeowners! From a single-family dwelling to a townhouse to a modular home, the choices are seemingly endless. But, before you start widening your search, let’s take a look at what makes these home types different – and which one is perfect for you!

Single-Family Detached: These homes provide more privacy with less noise from neighbours. They also tend to be larger dwellings (complete with a yard!) which gives you the space and freedom to really make it your own. Due to the popularity of these homes, there is often high demand in them which can drive up selling prices.

Single-Family, Semi-Detached: These homes are suitable for a single family and are typically attached to another house on one side making them more affordable to both buy and maintain. With this affordability does come somewhat less privacy and protection from noise.

Duplex: These are great options for individuals looking to reduce home purchase and carrying costs – live in one unit, rent the second! This type of home also provides unique flexibility for older families, giving you the option to move adult children or aging parents into the second unit.

Townhouse or Row House: These typically have private yards but, in some cases, it may be freehold or condo-style with shared ownership rights and responsibilities. Typically more affordable to buy and maintain, however, they tend to have less privacy and noise protection as well as coming with monthly maintenance or strata fees.

Condominium: These are low- or high-rise buildings containing multiple apartment units. These units are individually owned, with shared ownership rights and responsibilities over the building and the common area. Condos are excellent starter homes for single adults, or couples, as they are affordable and require minimal maintenance. Some buildings even have shared amenities, such as a fitness center or swimming pool or party room.

Modular or Mobile Home: These types of homes are highly affordable and extremely flexible; if you relocate, you can sell the mobile home with the property or keep the home and relocate it! As these are less common and somewhat newer home types, there is less resale demand than other housing types and they are much smaller than a detached or even a condominium. If renting land in a mobile home community, there are also those costs to consider.

Finding the right home to suit your needs means considering your lifestyle and budget now, as well as where you’ll be a few years down the road. Want more information or need help deciding the best option for you? Contact Jennifer Koop, your DLC mortgage expert to learn more about your options when it comes to buying and owning a home.

Published by DLC Marketing Team

For all your mortgage needs contact us today, 705-349-0502.

16 Aug

The Two Most Costly Words in Personal Finance

General

Posted by: Jennifer Koop

The Two Most Costly Words in Personal Finance.

Most of us have experienced how YOLO (You Only Live Once) is the one word that often leads to a pile of unpaid credit card bills and more than a few regrets down the road. However, YOLO has a contender for the world’s most expensive word, and that word is procrastination.

Enriched Academy are huge believers in education, fact finding, and analysis before making any important financial decisions, but at some point, you have to act. Whether it’s opening an online brokerage account, meeting with a financial coach, or simply inputting your monthly household expenditures into a spreadsheet, you need to get moving.

There are lots of reasons why we kick financial matters down the road — not enough time? lack of knowledge? low motivation? Regardless of the reason, if you need a little inspiration, here are five examples that clearly demonstrate the cost of procrastination when it comes to managing your money.

Attacking your debt problem

If you have credit card debt, car loans, or a line of credit that you are in no hurry to eliminate, you need to look at how much it is costing you. Credit card debt has always topped the list and even the so-called “low interest” credit cards are around 10% (most charge double that rate). Paying the minimum 3% will get you nowhere fast — at the usual credit card rate of 20%, a $1000 balance will take 11 years to eliminate and cost you another $1000 in interest.

Starting your retirement planning

Too little, too late is the story for many Canadians when it comes to funding their retirement. CPP and OAS aren’t enough to save you. Did you know you have to pay into CPP for 39 years to claim the maximum amount and that the average monthly payment is currently $811? If you don’t know where to start, open a TFSA and focus on putting in as much as you can each year. Your annual contribution limit is $6500 but it carries over from year to year and you may find you have a lot of unused contribution room. Make sure to invest your TFSA funds and don’t let it sit in cash.

Analyzing expenses and budgeting

Next month is not the time to start figuring out where your money goes every month and where you could/should/need to cut back on spending. The time to get started is today, and it has never been easier with hundreds of online applications and spreadsheet software, or you can go old school with pen, paper and calculator.

Getting started with investing

Getting a late start makes it very difficult to catch up because you seriously reduce the effect of compound investment returns. Investing $500 monthly at 5% starting at age 25 versus age 35 will cost you an extra $60K, but it will add over $325K to your retirement fund by age 65. You don’t need to be an investing genius to get going, there are lots of low-cost, low-maintenance and relatively simple ways to manage your own investing these days.

Creating an emergency cash reserve and a will

If the pandemic taught us anything, it was to prepare for the worst. Your income could unexpectedly and very easily disappear for a number of reasons, so you need to have enough cash on hand to tide you over for a few months. As for a will, they are lots of options (including online) these days and there isn’t any valid excuse for not having one, especially compared to the mess it leaves behind for your loved ones if you die without one.

A YOLO attitude and procrastination sound harmless enough, but they can seriously derail your finances. Make sure to keep them at bay or your financial goals will continue to be elusive.

Published by DLC Marketing Team

Contact Jennifer Koop, your Cottage Country Mortgage Agent, today for all your mortgage needs, 705-349-0502

15 Aug

Second Mortgages: What You Need to Know

General

Posted by: Jennifer Koop

Second Mortgages: What You Need to Know.

One of the biggest benefits to purchasing your own home is the ability to build equity in your property. This equity can come in handy down the line for refinancing, renovations, or taking out additional loans – such as a second mortgage.

What is a second mortgage?

First things first, a second mortgage refers to an additional or secondary loan taken out on a property for which you already have a mortgage. This is not the same as purchasing a second home or property and taking out a separate mortgage for that. A second mortgage is a very different product from a traditional mortgage as you are using your existing home equity to qualify for the loan and put up in case of default. Similar to a traditional mortgage, a second mortgage will also come with its own interest rate, monthly payments, set terms, closing costs and more.

Second mortgages versus refinancing

As both refinancing your existing mortgage and taking out a second mortgage can take advantage of existing home equity, it is a good idea to look at the differences between them. Firstly, a refinance is typically only done when you’re at the end of your current mortgage term so as to avoid any penalties with refinancing the mortgage.

The purpose of refinancing is often to take advantage of a lower interest rate, change your mortgage terms or, in some cases, borrow against your home equity.

When you get a second mortgage, you are able to borrow a lump sum against the equity in your current home and can use that money for whatever purpose you see fit. You can even choose to borrow in installments through a credit line and refinance your second mortgage in the future.

What are the advantages of a second mortgage?

There are several advantages when it comes to taking out a second mortgage, including:

  • The ability to access a large loan sum (in some cases, up to 90% of your home equity) which is more than you can typically borrow on other traditional loans.
  • Better interest rate than a credit card as they are a ‘secured’ form of debt.
  • You can use the money however you see fit without any caveats.

What are the disadvantages of a second mortgage?

As always, when it comes to taking out an additional loan, there are a few things to consider:

  • Interest rates tend to be higher on a second mortgage than refinancing your mortgage.
  • Additional financial pressure from carrying a second loan and another set of monthly bills.

Before looking into any additional loans, such as a secondary mortgage (or even refinancing), be sure to speak to Jennifer Koop, your DLC Mortgage Expert! Regardless of why you are considering a second mortgage, it is a good idea to get a review of your current financial situation and determine if this is the best solution before proceeding.

Contact us today for all your mortgage needs, 705-349-0202

Published by DLC Marketing Team

8 Aug

After You Buy – Closing Tips

General

Posted by: Jennifer Koop

After You Buy – Closing Tips.

Now that you have finished signing your mortgage paperwork and getting the keys to your first home, there are a few things to keep in mind after you buy to protect your investment and ensure future financial success!

  1. Maintaining your home and protecting your investment: Becoming a homeowner is a major responsibility. It’s up to you to take care of your home and protect what is likely your biggest investment.
  2. Make your mortgage payments on time: There are many options when it comes to mortgage payment frequency. Whichever schedule you choose, always make your payments on time. Late or missed payments may result in charges or penalties, and they can negatively affect your credit rating. If you’re having trouble making payments, please contact your mortgage broker as soon as possible.
  3. Plan for the costs of operating a home: You will have several ongoing costs besides your mortgage, property taxes and insurance. Maintenance and repair costs are at the top of the list, along with expenses for security monitoring, snow removal and gardening. If you own a condominium, some of these costs may be included in your monthly fees.
  4. Live within your budget: Prepare a monthly budget and stick to it. Take a few minutes every month to check your spending and see if you’re meeting your financial goals. If you spend more than you earn, find new ways to earn more or spend less.
  5. Save for emergencies: Your home will need some major repairs as it ages. Set aside an emergency fund of about 5% of your income every year so you’ll be prepared to deal with unexpected expenses.

If you have any additional questions about closing, or your mortgage upkeep, please don’t hesitate to reach out to Jennifer Koop, your DLC Mortgage expert today! 705-349-0502

Published by DLC Marketing Team

2 Aug

In Search of Financial Wellness?

General

Posted by: Jennifer Koop

In Search of Financial Wellness?

Financial wellness is fast becoming the latest buzzword as soaring inflation and interest rates pile the pressure on Canadians. There is a strong connection between mental health and financial health, and financial stress is taking a heavy toll. So, what exactly does it mean to be “financially well”?

Financial wellness is described as a state of well-being where an individual or a household has achieved financial stability and is able to meet their current and future financial obligations without undue stress. Financial wellness is not about being rich, having a certain amount of net worth, nor achieving a specific financial goal. Rather, it is about having a sense of security and confidence in your financial capability and being able to manage financial issues, challenges and opportunities as they arise over time.

Financial wellbeing is a function of many different factors. Income is obviously a critical element, but it also depends heavily on how well we are able to manage our money. These tasks include budgeting, managing debt, and investing and planning our retirement. The degree to which we are able to handle these tasks successfully depends on our level of personal financial literacy and our ability to make informed decisions, solve financial problems, and manage financial risk.

The heightened stress and anxiety cause by poor financial wellness has significant effects on many aspects of our life including poor job performance and relationship issues.

How do you measure financial wellness?

Financial wellness can be measured in a number of ways, but it is often a feeling rather than some sort of tangible number. A financial health assessment is a comprehensive evaluation that involves reviewing income, expenses, debt, savings, investments, insurance coverage, and other financial assets and liabilities. It identifies areas of strength and weakness and provide insights into how to improve overall financial well-being.

A financial stress tests involve evaluating an individual’s or household’s ability to withstand financial shocks or unexpected events, such as a job loss or medical emergency. Financial stress tests can help identify potential vulnerabilities in one’s financial situation and provide insights into how to build financial resilience.

Financial behavior analysis involves examining an individual’s or household’s financial behavior and decision-making processes. It can help identify patterns of behavior that may be contributing to financial stress or instability, such as overspending or not saving enough.

Overall, measuring financial wellness is a complex process that requires taking into account multiple factors and indicators. Different methods may be appropriate for different individuals or households, depending on their specific financial circumstances and goals.

How can I improve my financial wellness?

There are plenty of options for improving your financial wellness and most of them revolve around bettering your financial literacy skills to effectively tackle expenses, use credit wisely, manage debt, save money, and build long-term wealth and security through investing. Working with a financial coach or financial planner can also provide the knowledge and support needed to achieve your financial goals.

In addition to individual actions, there are also broader solutions that can support financial wellness at the societal level. These may include policies that promote income equality, affordable housing, and access to financial services, as well as financial education in schools and employee financial wellness programs.

2023 is shaping up to be another tough year financially for Canadians and financial wellness will continue to be elusive, especially if your financial literacy is lacking. The good news is there are a lot of resources available and many of them are free or low-cost. The largest hurdle for most of us is willpower and maintaining our motivation — achieving financial wellness is not a sprint. It can be a time-consuming, slow process and you may not see the results from your efforts until many months or many years down the road!

Published by DLC Marketing Team

Contact us today for all your mortgage needs 705-349-0502

6 Jul

10 Questions to Ask Your Home Inspector

General

Posted by: Jennifer Koop

10 Questions to Ask Your Home Inspector.

While home inspections might not be the most exciting part of your home buying journey, they are extremely important and can save you money and a major headache in the long run.

In a competitive housing market, there can sometimes be pressure to make an offer right away without conditions. However, no matter how competitive a market may be, you should never skip out on things designed for buyer protection – such as a home inspection.

You may have a good eye for décor and love the layout of your potential new home, but what is under the surface is typically where headaches can lie. We have all heard the expression “don’t judge a book by its cover” so why would you make the most important purchase in your life without checking it out?

Below are a few key questions you can ask your home inspector to ensure that you are getting a complete and thorough inspection:

  1. Can I see your licence/professional credentials and proof of insurance?
  2. How many years of experience do you have as a home inspector?
    • Note: Make sure they’re talking specifically about home inspection and not just how much experience they have in a single trade.
  3. How many inspections have you personally completed?
  4. What qualifications and training do you have? Are you a member of a professional organization? What’s your background – construction, engineering, plumbing, etc?
  5. Can I see some references?
    • Note: Don’t just ask for references, be sure to follow up with them. Ask the clients how they felt about the home inspection, did any issues crop up down the line that they were not made aware of, etc.
  6. What kind of report do you provide? Do you take photos of the house and specific problem areas (if any) and include them in your report?
  7. What kind of tools do you use during your inspection?
  8. Can you give me an idea of what kind of repairs the house may need?
    • Note: Be hesitant if they offer to fix the issue themselves or are willing to recommend someone cheap. Home renovations and repairs are one area you should never skimp on.
  9. When do you typically do the inspections?
    • Note: Ideally you want a home inspector operating full-time and can view the house during the day to inspect all areas, especially the roof.
  10. How long do your inspections usually take?

While hiring a home inspector may seem daunting, it will be the best few hundred dollars you ever spend. There is no price on peace of mind!

Published by DLC Marketing Team

Contact us today for all your mortgage needs, 705-349-0502