Everyone knows that the last few years have brought significant ups and downs for the real estate market. There were a lot of buyers, few sellers, interest rates were skyrocketing. So, what can you control when you are trying to buy or sell a home?
Buyers:
If you are using a real estate agent, trust their advice. They are experts in this field for a reason. That being said, a second set of eyes, preferably from an attorney can be extremely beneficial. You want to make sure you have all your ducks in a row for when you find the perfect house, and you also want to have your ducks in a row if that house turns out to be not so perfect.
Pay attention to the contingencies that you can take advantage of in the Offer to Purchase. These include contingencies for financing, inspections, radon testing, appraisal, and the sale of your property. These contingencies not only protect you to make sure the home you are buying is in good shape, but they can also protect you if your financing doesn’t come through as anticipated.
Typically, when buying a home, you will have a realtor and mortgage lender who can both assist you through the process. There are a few time requirements that you should pay specific attention to. The first is regarding earnest money. If you did not supply earnest money with ...
