Deciding to buy a house brings many challenges, especially so for those unfamiliar with the intricacies of real estate purchase, transfer, and financing. This section is a brief, user-friendly guide to help you find your way through the issues of insurance, warranty, appraisal, and mortgage statement on the property.
This is what we’ll be discussing in Chapter 8 of The Complete Guide To Buying A Home that you can read online at https://davebailey.me/go/homebuyer
The Closing Process
HOMEOWNER’S INSURANCE: MAKE SURE YOU’RE COVERED!
Unless you’re paying the sale price of the home in cash, your lender will require the purchase of homeowner’s insurance before closing.
A HOME WARRANTY LETS YOU SLEEP BETTER AT NIGHT
Whether you’re a first-time home buyer or empty nester downsizing after several previous home buys, it might be a smart idea to have a warranty plan, so that you can sleep well at night.
GETTING AN APPRAISAL DIFFERS FROM THE EVALUATION BY A PROPERTY INSPECTOR
A real estate appraiser is a state-licensed expert who determines the value of a certain property. When it comes to closing a financial transaction involving a property, both the seller and the buyer depend on his or her evaluation.
Get Ready for Your Closing Day
Prepare all the paperwork that you’ve collected during the process. This includes the title search and insurance, inspection reports, bank statements, home appraisal, checks of down payment closing costs, and prepaid interest.
AFTER YOU SIGN THE PAPERS
Take the keys and start moving into your new house. Now you’re a legitimate owner and a person who is responsible for a mortgage loan.
Watch the video and then read the corresponding chapter of the Complete Guide To Buying A Home. Then ask David your questions, so he can record more videos answer them and provide more clarification as needed.
If you are looking for a home in the area, call me at (727) 249-4022 so we can talk about what you’re looking for. We’ll work together intensively to buy your new home.
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