When you are in the market for a home, it can be tempting to rush into putting in an offer and signing those final purchase agreement papers when you feel like you found the perfect home. Unfortunately, there is still more you need to do before you sign the final papers. Here are some important things to remember you do before accepting the house purchasing agreement.
Check Out the Neighbourhood Statistics
You have likely already considered some general information about the area where the house is, such as where schools are and what types of activities are available near the house. However, it helps to delve a little deeper and really do your research. You want to know everything from the crime rates to whether or not your neighbours throw block parties over the summer. Talk to the neighbours and local businesses to get an idea for the type of community you will be living in, make sure other kids are close by if you have kids, and get more information about the ratings of the schools your kids will be attending. Also look into things like new developments in the area, since you might not want to buy a house next to a big shopping center that is being built.
Know When You Can Move in
More often than not, buying a house doesn't mean you can move in right away. If you are in a hurry to leave the house you are in, this might mean staying in a hotel room with your belongings in storage, or renting a short-term house in the same area. Make sure you find out exactly when you actually get the key and can start moving into the house. This might end up being a deal breaker if the person selling the house can't move out for another two months.
Get a Pre-Purchase Inspection
Pre-purchase inspections are a very important part of the home-buying process and one thing you should never put off or forget to do. Even if a house looks brand new and in perfect condition, there is no telling what is behind those beautiful walls. Hire a building inspection company that will look at things like the plumbing and HVAC system, electrical work, structure, and basement. Have them look for signs of things like lead paint, asbestos, and termites as well.
Have the Contracts Reviewed By a Lawyer
When signing contracts for your new home, get them reviewed by a lawyer beforehand. This ensures everything is accurate and up to date. The lawyer can look for red flags in the purchasing contract that you might not have noticed the first time you read them.Share