1. Always Inspect Both Systems Before You Close A traditional home inspection might not cover the well and septic in detail—so request separate inspections from licensed specialists: A well inspection will test water quality (for contaminants like bacteria, nitrates, or arsenic) and check the flow rate A septic inspection ensures the tank and drain field are working properly and […]
1. A Backup Offer Puts You Next in Line When a home is already under contract, the seller can accept a backup offer from another buyer. That means: If the first buyer backs out, your offer automatically becomes the primary contract You don’t have to start the bidding war all over again You’re legally ready to move forward if
1. Foreclosure Happens When Mortgage Payments Stop Foreclosure is the legal process where a lender reclaims a home after the borrower fails to make payments. It doesn’t happen overnight—there are usually months of missed payments and warning notices before the process begins. If you’re a homeowner falling behind, you still have time to take action
1. The Deed Is the Physical Document That Transfers Ownership A deed is the actual, signed piece of paper that moves ownership from the seller to you.��️ It lists your name (and co-buyers, if any) It includes a legal description of the property It must be recorded with the county or city to be official Think of the deed as your receipt
1. With a Condo, You Own the Unit Buying a condo (short for condominium) means you: Own your individual unit outright (just like a house) Share ownership of the building’s common areas (like the gym, hallways, pool) with other unit owners Receive a property deed Can often rent out or sell your unit freely This gives you
What Are the Different Types of Homes You Can Buy 1. A Contingency Offer Comes With Built-In Conditions A contingency in a real estate contract says: “We’ll buy this home, if these things happen.” Common contingencies include: Home inspection: Gives you a chance to walk away if the home has major issues Financing: Protects you if your
1. HOAs Help Maintain Standards An HOA exists to protect the look, feel, and value of the community. They enforce rules around landscaping, home color choices, parking, fence height, and more. It might sound strict, but the goal is to keep the neighborhood clean, safe, and appealing. If you like structure and consistency, this can
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
The Truth About Private Mortgage Insurance (and How to Make It Work for You) PMI Sounds Scary—But It Might Be Your Ticket In If you’ve heard of PMI and thought, “Ugh, one more fee?”—you’re not alone. Private Mortgage Insurance can feel like a mystery charge when you’re already juggling numbers. But here’s the truth: it
1. A Home Warranty Covers Systems That Wear Out Over Time Unlike homeowner’s insurance, which covers things like fire or weather damage, a home warranty covers functional items inside your home. That includes: Heating and cooling systems (HVAC) Plumbing and electrical systems Major appliances like your fridge, oven, or dishwasher If one of these breaks
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. Understanding property taxes is