THE HOME INSPECTION
A very important part of the process is the inspection of the home. The home inspection is a physical examination of the condition of the property and is a necessary step to learn about any problems and/or functions of the property and get a look at its surroundings. If you find a serious problem with the home during the inspection, you’ll have an opportunity to back out of the deal, ask the seller to fix it or have the seller pay for you to have it fixed before the closing.
The report received for the home the Lewis purchased was a thorough report approximately 80 pages, Charles recalls. He was thankful to Troy, forgetting the 7-day option period so they could inspect the home review the report, and decide how to move forward based upon the information learned from the report. After the inspection, the Lewis’ were content with the results and the overall condition of the home, the items identified that were a requirement to be addressed before the purchase was negotiated, so they proceeded with the purchase.
But there’s nothing like living in the home, so be prepared to identify items that may not work perfectly once you move in. The Home Warranty is a good way to cover some of the items you may identify at a later date.
CLEAR TITLE TO OWNERSHIP – THE CLOSING
A title search and title insurance provide peace of mind and a legal safeguard so that when you buy a property no one else can try to claim it later, be it a spurned relative who was left out of a will or a tax-collecting agency that wasn’t paid its dues. A title search is an examination of public records to determine and confirm a property’s legal ownership and find out which claims, if any, are on the property. If there are any claims, they will need to be resolved before 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 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 game amongst friends is one thing, but purchasing a home…the biggest purchase in most lifetimes is another,” said Charles.