T.E. Sumner

No.

Inspections during foundation, framing, pre-sheetrock, finish-out are more important than a TREC home inspection. The local code compliance may or may not be satisfactory to the buyer. If not, then a visiting building inspector is recommended at each milestone.

If you have to hire a TREC inspector during the building, find a different builder. Most things the buyers find are during the building phases are easily identified and corrected. The buyer should document them, though, because less reliable builders will verbally agree to fix something and then wall up the offense.

The best approach after construction is to wait on a home inspection until 30 days before the builder's warranty expires. At that time the inspector should bring a list of the defects for the builder to resolve. In this way, if there are issues with infant mortality of appliances, slow leaks and so on, they will be caught right along with the reversed plugs, disconnected ducts and so on. It also gives the buyer time to record and document any issues he finds over the 6 to 11 months before the warranty expires. - Mon Nov 10 2008, 23:33

In reverse order, monthly payments and down payment depend on your lender. If you are a veteran, this might go for $1,900 down plus closing costs and $210 a month.

There are neighbors next and across the street from the property.
Price is always negotiable as most other terms of the sale.
Survey and dimensions: unknown. - Mon Nov 10 2008, 23:23

I like Kim's answer. I would add that circumstances vary, too. Sometimes the foreclosed owners are still there fighting possession for several weeks. Sometimes the bank gets several orioerties all at once and at least one of them will wind up being the last one listed a few weeks after the first.

Typically, it is about a month after the bank takes possession. But can be a lot longer. - Mon Nov 10 2008, 23:12

Many sellers will view changes in price dimly, but the reality is that financing is contingent on the property having a sufficient value to act as collateral for the loan. If the value is not sufficient, no loan. No loan, no sale.

So, as the time approaches when you need to finalize financing in anticipation of closing, discuss the matter with your Realtor to determine the best strategy for broaching the discrepancy in value vis a vis your loan with the builder. - Mon Nov 10 2008, 23:08

Your Realtor can assist you with this research.
If you don't have one, send me an email through my profile with whatever details you have on the property, and I will reply with what I find.
Having the names is not sufficient to constitute a title search, however. Other claims on the property may exist that a title search will reveal. By the way, et al is commonly used when 3 people own a property. Many county records systems are set up for husband and wife, not 3 people. - Mon Nov 10 2008, 22:57