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Say What? Home-Buying Lingo You Should Know

Zillow

American Society of Home Inspectors (ASHI) : A not-for-profit professional association that sets and promotes standards for property inspections and provides educational opportunities to its members. Cash-value policy : A homeowners insurance policy that pays the replacement cost of a home, minus depreciation, should damage occur.

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The 9 Essential Steps of a Real Estate Closing Process

Movoto

A real estate closing is the final stretch of a real estate transaction, during which several tasks prepare the property for transfer. Throughout this time, several inspections are performed to check everything from the physical condition of the home to the underlying financial and legal health of the property.

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Appraising New Construction

Appraisal Today

My advice: Always check what plan and updates were actually built when doing final inspection. I always asked to see the final sales document data. You would have to disclose any claim on your next renewal application, so your insurer is going to find out about it. What should you do?