When you are looking to buy a house, you are seeking much more than a roof over your head. You are looking for a place for you and your spouse to live, to make your own, and maybe even raise children in. Buying a house is a huge step in life, and though it is exciting, it is also quite complicated at times. This is why if you are considering buying a house, you should read on to learn more about the process.
What is the process of buying a house?
When you are ready to purchase a house, the first thing you must establish is a real estate contract. This is a binding agreement, and it should hold terms that accommodate everybody’s needs. This is also one of the reasons you should have an experienced attorney who knows what to look for when handed a contract like this. An experienced attorney by your side may recognize and warn you of any potential downsides of signing. When a contract is signed, it indicates that the seller has accepted your offer, and you are well on your way to buying your home. Next, there will be a home inspection. Before you purchase a house, you want to make sure everything is in working condition, or is at least as advertised. Within a few weeks of signing the contract, you will hire a professional to perform an inspection. Once the home inspection is complete, you may request any repairs or negotiate the terms of your contract in response to the problems. The seller may agree to or reject your request.
What is a title inspection?
Your attorney will establish the condition of the title. The title search should reveal information such as public and court records, the chain of title, legal descriptions, liens or other claims, easements, or property tax records. This is so you may make an informed decision when you purchase the house. Once the contract is signed, you should get a mortgage if you need one. If you cannot get approved, the transaction may be terminated. However, if all goes well with the home inspection and your mortgage is approved, you may get ready to close on the house with the seller. You will conduct a final walk-through to ensure the house is in the same condition as seen in the inspection. The closing is then completed once the funds are transferred and keys are exchanged.
Contact our experienced New York firm
The Lauterbach Law Firm is proud to serve clients throughout Rockland County who are faced with legal matters related to estate planning, real estate, foreclosure defense, landlord-tenant law, business law, and criminal defense. If you require the services of an experienced team of attorneys, contact The Lauterbach Law Firm today to schedule a consultation.