Buying your first home is an exciting time in your life. However, it can also be stressful if you aren’t prepared. Sellers often have an advantage over first-time buyers because they’ve purchased a home before, and they typically have an agent representing them. You can level the playing field by learning all you can about Real Estate Sales in Charlottesville before you start looking at homes.
1. The contract of sale is a binding agreement. The seller or their representative usually drafts the contract. However, the buyer is not obligated to abide by the stated terms until it is executed. As a buyer, you should ask an attorney or other professional to review your contract and make proposed changes before you sign it.
2. Don’t take the seller’s word for anything. Before you enter into a contract to buy a house, you must have inspections to ensure the roof is free of leaks, and there is no termite infestation or termite damage in the structure. You may also request an inspection from an engineer to ensure the structure is sound. An HVAC inspection to make sure the heating and air conditioning systems are in good working order should also be done before signing a contract. Making the investment in inspections before you purchase a house can save you a lot of money down the road. Your attorney might ask the seller to make repairs or lower the purchase price if the buyer has to make the repairs.
3. Review your complete financial situation before you make an offer on a house. Once your offer is accepted, and the contract is made, you’ll have a limited amount of time to secure financing. Knowing whether you’ll be able to get a mortgage loan before you start looking at homes can help you avoid a lot of frustration.
An attorney who focuses on Real Estate Sales may help you navigate the home buying process and could help you prevent common mistakes. Visit Cornerstone Real Estate to learn more about how a home purchase transaction works from start to finish. The more information you have about buying a property, the less stressful the purchase process will be for you and your family.
