Page 26 - EQ Mag-issue 5

COVER STORY (Cont’d)

with is how quickly a house can leave the market in a identified that was a requirement to be addressed before
seller’s market. A seller’s market is basically when there purchase were negotiated, so they proceeded with the
are a limited number of properties and plenty of buyers. purchase.
This gives the most leverage to the seller. Whereas, with
plenty of real estate inventory, and few buyers, the buyers But there’s nothing like living in the home, so be prepared
have more leverage...or referred to as a buyer’s market. to identify items that may not work perfectly once you
Recommendation is to prioritize multiple homes that fit move in. The Home Warranty is a good way to cover some
the criteria and decide soon as is feasible. of the items you may identify at a later date.

IMPORTANCE OF THE HOME INSPECTION CLEAR TITLE TO OWNERSHIP – THE CLOSING

A very important part of the process is the inspection of A title search and title insurance provide peace of mind and
the home. The home inspection, is a physical examination a legal safeguard, so that when you buy a property no one
of the condition of the property and is a necessary step to else can try to claim it later, be it a spurned relative who was
learn about any problems and/or functions of the left out of a will or a tax collecting agency that wasn’t paid
property and get a look at its surroundings. If you find a its dues. A title search is an examination of public records
serious problem with the home during the inspection, to determine and confirm a property’s legal ownership and
you’ll have an opportunity to back out of the deal, ask the find out which claims, if any, are on the property. If there
seller to fix it, or have the seller pay for you to have it fixed are any claims, they will need to be resolved before the
before the closing. The report received for the home the buyer gets the property.

Plan to sign a ton of paperwork. A settlement agent will
guide you through the process and explain everything you
will need to sign and answer all your questions. When
you’re done, you’ll collect the keys, and you’re finally home
free!

Charles felt that working with people whom he actually
knew, was important because understanding his
personality and how he operated can be challenging at
times. Darryl in particular always talks about how he wants
to empower his community professionally, and the Lewis
felt this was an opportunity for him to do just that. “Both
gentlemen started out as just my friends, but they both
professionally represented us very well. “A domino games
amongst friends is one thing, but purchasing a home...the
biggest purchase in most lifetimes is another,'' said
Charles.

CUSTOMIZE YOUR HOME TO YOUR PERSONALITY

The Lewis’ encourages buyers to not be afraid to renovate
if the home didn’t have everything desired. The Lewis’
upgraded their home which was already move-in ready,
[Master Bedroom Renovations]
but they wanted to personalize the home in some key
Lewis purchased was a thorough report approximately 80 areas they preferred in various rooms in the home. They
pages, Charles recalls. He was thankful to Troy, for getting remodeled the master bathroom, guest bathroom and
the 7-day option period so they could inspect the home created custom closets in the master bedroom.
review the report and decide how to move forward based
upon the information learned from the report. Recommendation to price some of the home’s luxuries that
After the inspection, the Lewis’ were content with the may be on a buyer list before purchase. The Lewis’ home
results and the overall condition of the home, the items has a private in ground swimming pool, so the house

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