A decision of which house to purchase has been made.
But the process of buying a home is not as simple as choosing the desired dwelling and then being handed the keys after the loan documents have cleared.
Because there are many tasks to be completed between the time of choosing the home and the date of actually moving in, first time home buyers still have many common real estate questions that must be answered for them before they start life in their new residence.
What are some of these real estate questions of buyers who have reached the offer stage?
First up is the group of queries about inspections, namely what is involved during a real estate home inspection and why one is necessary.
Not only is an inspection of the home the primary duty to execute before anything else can be done during the offer phase, but the whole purpose of the procedure is to ensure the overall safety of the house.
The first part of the home buying inspection process includes everything from a thorough assessment of the property's structure and general construction; to an examination of the mechanical workings of the home such as its electrical and plumbing systems and the quality and source of the water flowing through the pipes; to determining how possible it is that the home will be infested by vermin at some point in time.
What happens to the house purchasing process if a major problem is discovered in any of the above categories?
An inspection clause included in the offer will easily take care of the issue.
This clause gives the home buyer two choices when serious problems are found during a real estate inspection: he can either back out of the process entirely so as not to deal with it; or he can factor it in to the agreement that the current owner must either pay to fix the problem or subtract its fix-it costs from the home's final purchase price.
Another of the frequently asked real estate questions when it comes to the process of buying a home is whether or not homeowner's insurance is really necessary.
The answer to this one is a resounding "yes," as it is also a requirement to have a policy in place (or a receipt for a paid policy) before the closing phase of the deal can occur.
Why is homeowner's insurance so crucial?
Simply stated, a homeowner must protect himself from potential future lawsuits filed on behalf of the patrons invited to spend time in the home, which is precisely the purpose of taking out a policy on one's property.
บ้านมือสอง กรุงเทพ For example, all a guest has to do is slip on a loose wood plank or trip on unsecured carpet for the owner of the house to be sued due to a negligence on his part to keep his residence a safe place.
As an added bonus, involving the homeowners insurance company agent early on when buying a home creates an avenue for the purchasing party to save a few extra bucks, because the agent possesses a wealth of useful information when it comes to such topics as how to keep the insurance premiums to a minimum.
How to obtain that low insurance premium comprises the next of the common real estate questions posed by people looking to become homeowners.
Despite the expense associated with buying homeowners insurance, there are still ways to save money in order to take the heat off of one's bank account.
The location of the home is one of the biggest aspects calculated into the final cost of insurance. In other words, those living in areas that are infamous for the occurrences of earthquakes, floods, hurricanes, or tornadoes can easily expect to pay more for an insurance policy.
Thus, choosing a community that is free from a majority of these natural disasters is another way to pocket extra funds.
Next, living near a fire hydrant or close to an actual fire station guarantees the homeowner a much lower insurance premium, as does purchasing a newer home or a dwelling built mostly out of brick.
Following on the list of questions is whether or it is possible for a buyer of real estate to complete his purchase without the assistance of an attorney.
An inquiry posed by many first time home buyers, the answer depends upon the state where the real property is located - as some states make it mandatory that a lawyer be a part of the process, while other states do not have this requirement so long as a qualified professional real estate agent is on the case.
Regardless if it is required, some buyers still do find it helpful to retain an attorney when it comes to such tasks as interpreting the complicated legal contracts and other documents that go along with the real estate buying process.
Now that many of the common real estate questions have been answered, it is time to go out and make an offer on that desired piece of property!
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