Stuart Drossner’s Home Buyer Checklist
Stuart Drossner provides some tips for Home Buyers below. Buying a home is a very important step in your life and can be complicated. For questions you can visit Stuart Drossner at his website http://www.Stuart-Drossner.com
1. Get your financing arranged before you look for a home. See your bank or loan officer before you see a real estate agent. You must know how much you qualify for in a mortgage and how much money you need to close. When you meet these basic requirements, you’ll know the price range to shop.
2. Purchase an Owners Title Policy to cover your interest. Although you need a title policy for your mortgage lender, this only covers the loan amount. An Owners Title Policy costs little and protects your equity.
3. Know your property boundaries. In many locations, this involves getting a survey so you understand exactly what you’re buying.
4. Use an attorney when you need legal advice. Most agents can advise you on local customs, not legal issues.
5. Read the Covenants, Conditions and Restrictions of the subdivision (CC&Rs). If you’re purchasing a condominium, know what the association fees are and your legal rights. You need to know if you must always occupy the property or if you can rent it, if children are allowed, and what the association does. Do they paint the exterior, landscape, and send you an extra bill?
6. Do a final walk-thru before handing over your down payment and signing closing documents.
7. Make sure the seller’s move out on time. Once they get their money and the house changes ownership, you have no leverage if they damage something or don’t leave.