Archive for the ‘Buying A Home’ Category:
Contingencies in a Purchase Offer
In most purchase transactions there may be a slight challenge or two, but most things will go quite smoothly. However, you want to anticipate potential problems so that if something [...]
Earnest Money Deposit
After you have come up with an offer price, the next step is to determine how large a deposit you want to make with your offer. You want the “earnest [...]
The Closing Date
It is absolutely essential that you include a closing date as part of your offer. This way both you and the seller can make plans for moving, and the seller [...]
Transfer of Possession
A transaction is considered “closed” once the deeds have been recorded. Then you own the home. However, it is not always possible for you to occupy it immediately. This can [...]
Disclosures From The Seller
Although you have toured the property, looked at the walls and ceiling, turned on the faucets and played with the light switches, you have not lived in it. The seller [...]
Condition of the Property Upon Transfer
The last thing you want when you assume possession of your new home is to find it in a total mess. Therefore, you should make it clear in your offer [...]
Final Walk Through Inspection
Before closing, you will want to revisit the property to ensure it is in the condition you have required in your offer, and to inspect that any required repairs have [...]
Down Payment
Most buyers do not have enough cash available to buy a home, so they need to obtain a mortgage to finance the purchase. Since you will probably make your purchase [...]
Interest Rates
Another reason for including financing information in your offer is to protect yourself. If interest rates suddenly become volatile and rise quickly, as sometimes happens, you may be looking at [...]
Closing Costs and Financing Incentives
There may be times when, as part of your offer, you request the seller to pay all or a portion of your closing costs, or provide some other financial incentive. [...]
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