There is a lot of paperwork involved in the home purchase process – but you are, after all, making one of the biggest financial decisions of your life.
Every detail is of the process is important, because once you sign the sale contract, the consequences of a mistake can be tremendous. As such, it is important that you steer clear of these pitfalls when buying a home:
Failing to inspect the home
There is no doubt that home purchase can be an exciting experience. Once you have found the ideal home for your family, you need to be sure that it is in good condition. A pre-purchase inspection before closing the deal can give you peace of mind knowing that you are getting good value for your money.
Not asking for repairs or discounts
A home inspection may turn up some unseen flaws or needed repairs. If that happens, it would be a mistake to not ask the seller to make the repairs before closing or lower the price a bit to cover the expense.
Failing to prepare
Get a copy of your closing papers a couple of days before the closing date. Among other things, this document outlines the terms of your mortgage as well as the costs associated with closing the sale. It is important that you carefully review this document to ensure that you understand what you are about to sign. (Experienced legal guidance is wise during this stage.)
Closing a real estate deal can be exciting and stressful in equal measures. Find out the steps you can take to ensure that this process goes on smoothly without leaving you high and dry.