1. Title Insurance Covers Hidden Risks in a Home’s History When you buy a home, you’re not just buying the walls and roof—you’re also taking ownership of the property’s legal history. Title insurance protects you and your lender from: Undiscovered liens from past owners Ownership disputes or missing heirs Errors in public records or forged documentsIn short, it ensures the […]
1. Homeowner’s Insurance Protects You From the Unexpected Think of homeowner’s insurance as your home’s shield against life’s curveballs. It typically covers: Fire and smoke damage Theft or vandalism Storm and water damage (within limits) Liability if someone’s injured on your propertyIt also helps cover the cost of repairing or replacing your belongings—and in major events, even
1. Property Taxes Fund Local Services Property taxes are local taxes based on the value of your home and land. They help fund essential public services like: Schools Roads and infrastructure Police and fire departments Parks and librariesEven though you’re paying them, these taxes benefit your entire community—and that’s why they’re required annually. 2. Tax Rates Are
1. Review All Documents Ahead of Time A few days before closing, your lender and title company will send you a Closing Disclosure, which outlines your final loan terms, monthly payments, and closing costs. Take time to: Read everything carefully Ask questions about anything unclear Confirm wire instructions to avoid scams This is your chance to catch errors
1. Foreclosures Are Often Sold As-Is—So Budget for Repairs Yes, foreclosed homes are often priced below market value. But that discount comes with a trade-off: the property is typically sold as-is, meaning: No repairs from the seller Potential hidden damage No guarantees about condition You’ll be responsible for any and all repairs, from plumbing issues to structural concerns.
First-Time Buyer Guide: Closing Costs Explained in 60 Seconds ���� Thinking about buying your first home but not sure what “closing costs” actually mean? You’re not alone.Most first-time buyers are surprised by the extra costs that show up right before they get the keys. But here’s the good news: once you understand what closing costs are
Why First-Time Homebuyers Should Understand Escrow Accounts 💡 Confused by the word “escrow”? You’re not alone. It sounds like complicated banker talk, but escrow is actually a simple and super helpful tool that protects your budget as a new homeowner. Once you understand how it works, you’ll wonder why anyone does it differently. 1. Escrow
1. Work With Your Agent to Price It Right Before anything is signed, you’ll want to discuss your offer strategy with your real estate agent. They’ll look at market trends and recent nearby sales—also known as “comps”—to help you land on a price that’s competitive but fair. In a seller’s market, you may need to
1. A Seller’s Market Means High Demand and Fast Action In a seller’s market, there are more buyers than available homes. This creates competition, drives up prices, and often leads to multiple offers and bidding wars. Homes sell quickly—sometimes above asking price—and buyers need to act fast and come prepared with pre-approval, strong offers, and
1. A Home Inspection Is a Professional Check-Up A home inspection is a thorough examination of the property, done by a certified inspector. They assess everything from the roof, plumbing, HVAC, and electrical system, to the foundation and structure. Think of it like a physical exam — but for your future home. The goal? Spot
First-Time Buyer Guide to Single-Family Homes, Condos, and Townhomes 💡 Buying your first home? One of the first questions to ask is: what kind of home actually fits your lifestyle? From low-maintenance condos to spacious single-family homes, understanding your options helps you shop smarter and avoid surprises down the roa 1. Single-Family Homes Offer Space