Closing on Your Home
The Contract
Once you've found a home, made an offer and the seller has accepted your offer, the seller's agent draws up a contract specifying the terms and a closing date. When you sign this contract, you have officially agreed to purchase the home. Have a real estate attorney, or the real estate agent representing you, look over your contract. There are many small details that could make the difference between a good deal and a bad deal. An experienced professional can help ensure you're getting a good deal.
Inspection
Don't skip the home inspection. It is one of the most important parts of the home buying process, and important that you are present and prepared to ask questions. There are many big problems with a home that can't be detected with an untrained eye. A home inspector will go through the entire home to make sure there are no problems, which could either affect the value of the home or cause major problems in the future. If the home inspector finds any major problems that weren't disclosed before you signed the sales contract, you can use the inspection contingency to walk away from the deal or to renegotiate the price.
Closing Costs
Fees for closing a home can add up. Before you sign the contract, see if the seller will agree to pay for more of the closing costs. It's possible that the seller won't want to take on some of the closing fees, but it doesn't hurt to ask. You may be able to work out a compromise that's more mutually agreeable for everyone.
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