The Refinance Boom: An Opportunity for Inspectors?

[hausdok]

Banks are refinancing homes at record numbers right now as people take advantage of the current low interest on mortgages. Since banks require a home inspection as part of the process, is this a marketing opportunity that most inspectors are missing?

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[hmiller]

Since banks require a home inspection as part of the process, is this a marketing opportunity that most inspectors are missing?

To read more, click here.

I was not aware that any banks required a home inspection during a refinance. An appraisal for sure, maybe a pest inspection, but a home inspection?

Throughout my own years of home ownership, I have never been required by a bank to have a home inspection for a refi.

Is this for FHA and VA loans? .....or?

[Tom Raymond]

I got a call on Friday from a former coworker who is in the middle of a refi. His appraiser has specified repairs to the block foundation of the detached garage (two detriorated block), and the bank is requiring an inspection to verify those repairs prior to closing.

It seems that the banks are going to be much fussier than in the past.

Tom