First Time Homebuyers

Workshop
Session 3
  Attendance
 Questions
 Recap
Agenda  Shopping for a Home-Guest Speaker
 Fair Housing
 Home Inspections
  What is a credit score?
 What is a credit report?
 Why is having good credit/ credit history important?
 True or False: Information does not last on your credit report

Recap  How can you improve your credit score

 What are some common credit problems
 Name one hard credit pull and one soft
Shopping for a Home-Guest Speaker
  Signed into bill in 1968 following the assassination of Dr. Martin
Luther King, Jr.

Fair Housing  Prohibited discrimination in housing based on certain protected

characteristics and obligated federal agencies to further FH in
their programs

 The type of housing you live in and where it’s located has a direct
impact on the financial and educational opportunities that may be
available.
 It is unlawful to discriminate in the sale, rental, or financing of
housing on the basis of one of the following protected classes:
 Race
 Color
What are the  National origin
protected  Religion
classes?  Sex
 Familial Status
 Disability
 https://www.youtube.com/watch?v=94TVHAJtang
  Race
family, tribe or group of people coming from
the same common ancestors

Color
Seven color of an individual’s skin
Protected
Characteristics National Origin/Ethnicity/Ancestry
country in which a person was born or from
which the person’s ancestors came
 Religion/Creed
Protected all aspects of religious belief, observance, and
practice
Characteristics Sex
gender, not limited to pregnancy, childbirth, or
related conditions

Familial Status
one or more persons under age 18 who reside
with a parent, legal guardian, etc.

Disability/Handicap
physical and mental disabilities
 No one may take any of the following actions based on race,
color, national origin, religion, sex, familial status or disability:
 Refuse to rent to you or sell you housing

Prohibited  Tell you housing is unavailable when in fact it is available

Actions  Show you apartments or homes only in certain neighborhoods

 Set different terms, conditions, or privileges for sale or rental of a
dwelling
 Provide different housing services or facilities
 Advertise housing to preferred groups of people only
 No one may take any of the following actions based on race,
Prohibited color, national origin, religion, sex, familial status or disability:
 Threatening, coercing, intimidating, or interfering with or
Actions retaliating against anyone exercising a fair housing right or
assisting other who exercise that right

 Advertising or making any statement that indicates a limitation or

preference based on the above characteristics
Persons with
Disabilities  REASONABLE MODIFICATIONS
 Made to the dwelling or common use areas at the person’s expense
if necessary for person to use housing

 REASONABLE ACCOMODATIONS
 In rules, policies, practices, or services if necessary for person to use
housing
  HUD or a State or local fair housing agency is ready to help you file
a complaint.
If your rights
have been  After your information is received, HUD or a State or local fair
housing agency will contact you to discuss the concerns you raise.
violated
  Online: HUD Form 903

 Phone: 1-800-669-9777 (Toll Free)

1-800-927-9275 (TTY)

How to file a  Letter or In-Person

complaint  Name and address of person filing the complaint
 Name and address of the person the complaint is against
 Address or other identification of the housing involved
 Short description of the alleged violation
 Date(s) of the alleged violation
 https://www.youtube.com/watch?v=WsI7wOiPuIc
 Structural
• Foundation
• Roof
• Doors
• Windows
• Ceilings
• Walls
Home • Floors

Inspections Mechanical
• Plumbing
• Electrical systems
• Heating
• Air conditioning
• Insulation
• Ventilation
• Septic systems
  Inaccessible Areas or Systems
Home  Soil Composition and Condition

inspections do  Hazardous Materials

not cover….  Outdoor Cooking Equipment

  Expert working for you
 Know what you are buying
Importance of  Save money

Home  Renegotiate the purchase price

Inspection  Ask seller to make repairs

 Rescind your offer
  Homeowner should not be present
During  No pets or children

Inspection  Ask questions

  Licensed
 Experience and certifications
 Construction background
How to pick a  Member of professional inspectors group
home  Ask for a sample report
inspector  Reviews and references
 Wants you around during inspection
  From www.hud.gov
 1. What does your inspection cover?
 The inspector should ensure that their inspection and inspection report will meet all applicable
requirements in your state if applicable and will comply with a well-recognized standard of
practice and code of ethics. You should be able to request and see a copy of these items ahead
of time and ask any questions you may have. If there are any areas you want to make sure are
inspected, be sure to identify them upfront.
 2. How long have you been practicing in the home inspection profession and how many

10 Questions inspections have you completed?

 The inspector should be able to provide his or her history in the profession and perhaps even a
to ask your few names as referrals. Newer inspectors can be very qualified, and many work with a partner or
have access to more experienced inspectors to assist them in the inspection.
home  3. Are you specifically experienced in residential inspection?

inspector
 Related experience in construction or engineering is helpful, but is no substitute for training and
experience in the unique discipline of home inspection. If the inspection is for a commercial
property, then this should be asked about as well.
 4. Do you offer to do repairs or improvements based on the inspection?
 Some inspector associations and state regulations allow the inspector to perform repair work on
problems uncovered in the inspection. Other associations and regulations strictly forbid this as a
conflict of interest.
 5. How long will the inspection take?
 The average on-site inspection time for a single inspector is two to three hours for a typical
single-family house; anything significantly less may not be enough time to perform a thorough
inspection. Additional inspectors may be brought in for very large properties and buildings.
  6. How much will it cost?
 Costs vary dramatically, depending on the region, size and age of the house, scope of services
and other factors. A typical range might be $300-$500, but consider the value of the home
inspection in terms of the investment being made. Cost does not necessarily reflect quality.
HUD Does not regulate home inspection fees.
 7. What type of inspection report do you provide and how long will it take to receive the
report?
 Ask to see samples and determine whether or not you can understand the inspector's

10 questions to reporting style and if the time parameters fulfill your needs. Most inspectors provide their full
report within 24 hours of the inspection.

ask your home  8. Will I be able to attend the inspection?

 This is a valuable educational opportunity, and an inspector's refusal to allow this should raise
inspector a red flag. Never pass up this opportunity to see your prospective home through the eyes of an
expert.
 9. Do you maintain membership in a professional home inspector association?
 There are many state and national associations for home inspectors. Request to see their
membership ID, and perform whatever due diligence you deem appropriate.
 10. Do you participate in continuing education programs to keep your expertise up to
date?
 One can never know it all, and the inspector's commitment to continuing education is a good
measure of his or her professionalism and service to the consumer. This is especially important
in cases where the home is much older or includes unique elements requiring additional or
updated training.
  Radon
 Mold
Additional  Foundation

Inspections  Termites
 Hurricane readiness
 https://www.youtube.com/watch?v=VneF-FIgG8s