Get Expert Legal Advice When Purchasing a Home
For most people, buying their first home is venturing into the unknown. There are terms to know, rules to go over, and contract to sign. It can all be quite confusing to a first-time home-buyer. The good news is that you don’t have to go it alone.
The steps involved in buying a property may differ from state to state, but for the most part, they look something like the following:
Find a Real Estate Agent
Compare and shop for different types of mortgages so you know what works for you. Get pre-approved to save time once you have begun the process of buying a home.
Make a list of the important details you need to know, such as location and heating and air. Make another list of the features you would like in addition, such as a pool or a three-car garage.
A real estate agent can help you find the house of your dreams as well as point you in the right direction for financing. Make sure the person you hire knows what you are looking for and won’t try to bully you into something you don’t want. He or she should be working on your behalf to find your new home.
Start Viewing Properties
The next step is usually to start looking at houses in your price range. You can look at online listings or visit ones that the agent suggests. Make a list of must-haves for helping you choose the right house for you.
Put in a Bid
This is where you will make your offer. This may involve some negotiation if the seller asks for a higher price. Research the market values of the neighborhood where you want to live and make your price close to this number.
Apply for Financing
As part of your financing, you may have to get an appraisal of the property. You should have one for your own peace of mind anyway. Hire a home inspector to perform an inspection before you sign the contract. They know what to look for and can save you from making a bad decision.
Sign the Contract and Get Your Keys
The last step is to sign the contract and seal the deal. This is where it helps to know someone in the legal field who can look over the paperwork and give you the “thumbs up.” One of the best things you can do for yourself is to hire a lawyer to help you through the process.
So you see, there are a lot of steps involved in purchasing a home. With all the documentation it can be confusing to know what everything is and how it pertains to you. That is probably why more people often choose to rent instead of buy.
Here are a few ways that a lawyer can help when it comes to home buying:
A lawyer can advise you on the consequences of certain decisions - like buying a certain property or entering into a partnership.
They can look over your purchase agreement for any loopholes or things that may not be to your advantage.
They can check on the status of your home title and review it with you
When you become a LegalShield Member, a provider law firm provides you with a knowledgeable attorney to help you understand the process of buying a home and make the right decisions..
Let an expert help guide you through the legal maze of home buying. LegalShield helps members navigate the paperwork and legalities involved in purchasing a home. Learn more about this invaluable service and how it works.