Buying a new home can be one of the most exciting events in your life. However, keep in mind that it’s also a serious process. If you’ve already found the perfect house for you, and it’s affordable, it’s time to move through those last steps in home buying.
When you find that perfect house, make an offer on it. Most houses will have what’s called an asking price. The seller sets this because it’s the amount desired for the house. However, this is a bit negotiable. If you have a trusted and talented real estate agent, he or she will know whether it’s a good asking price or not and can advise you. It’s always best to have your own chosen real estate agent who is working in your best interests.
Before you make the final decision to buying a house, you need to get it inspected. Most buyers make an offer contingent on the outcome of the inspection. This is where you learn about any problems that may require extensive repairs.
While some of the problems may be small, there may be other issues such as termites or mold that will affect whether you can live in the house or not. Only a professional inspector can tell you what you need to know about repairs needed and the cost involved.
If you decide that you still want to buy the house once it’s been inspected, the next thing you need to do is shop for homeowners insurance. This is typically required by all lenders when a mortgaged is involved. They do this to be sure they’re protected against the house being damaged or destroyed while the loan’s in place. A homeowner’s policy can cover a lot of areas so you need to shop around to find the best coverage.
The last step is closing the deal. You get to sign papers and take over owning the house. Closing on a house can be exhilarating and scary at the same time. It will happen at the lender’s office with you and your real estate agent in attendance. You may want to have an attorney look at the papers prior to signing. After the closing, you’ll be handed the keys.