Obtaining professional advice
When specific items require expertise, such as how to take title
to the property or what the tax consequences of the transaction
might be, buyers should obtain qualified legal or tax counsel. This
type of advice might appear costly at the outset, but it really
provides a type of guarantee against problems arising in the future.
Family, friends, or your real estate agent can often recommend
competent professionals.
Inspecting Your Home Before You Buy
Before you close on your dream house, have it inspected. An
inspection is a professional examination of the structure of the
house and its systems. It may reveal structural defects, such as
substandard plumbing or a leaky roof, or problems with radon,
termites or lead-based paint. Your obligation to buy the house
should be contingent upon the findings of the home inspection and
your ability to secure a mortgage.
To find a qualified inspector in a new area, ask friends or business
associates for recommendations. Your real estate agent may also be
able to recommend several inspectors. Inspectors may also advertise
in the Yellow Pages, but use this resource as a last resort. Housing
inspectors are generally unregulated, and most states do not require
them to be licensed.
The fee charged for an inspection varies from location to location.
The size, age and features of the house also play a role in
determining the price. Check prices with at least three reputable
inspectors locally.
Now Relax...and Enjoy
You've plowed through the financial calculations and dealt with the
myriad details that go along with buying a house. You've shopped for
just the right home - with both your heart and your head. Now it's
time to sit back and enjoy your piece of the American dream. You're
a homeowner at last!
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