Five Tips to Navigate Buying A House
Homeownership is a dream that everyone wants fulfilled. However, achieving it requires dedication, research, and a plan. The last thing you want is to spend months of searching for a home you have been dreaming of, only to let it slip through your fingers because of an oversight.
Once you’ve made up your mind to purchase a new home, you need to get your act together and plan the way forward. Knowing what to do, and what to avoid, can play a crucial role in fulfilling your dream of homeownership. At Lebovitz Law LLC, we want to help everyone achieve their goals in the quickest possible time, which is why we have compiled a list of five tips to help you navigate through the house buying process.
Tip #1: Know your budget.
Whether you go through a mortgage broker or do it yourself, you need to qualify for a mortgage and get pre-approved with a lender. Completing these steps will help you to know how much you can spend on buying a house.
Tip #2: Get legal assistance.
While reading a document before you sign it is important, the chances are you may not understand everything. It’s best that you have an attorney review the sales agreement before signing it with a real estate agent.
Tip #3: Carry out a home inspection.
Buying a home involves a significant investment, so make sure it’s a prudent decision by getting a home and termite inspection carried out by a qualified inspector.
Tip #4: Know how much repairs will cost.
No home is perfect, not even new ones. A home inspection report will provide details about which areas need to be addressed. Based on this report, obtain estimates from a few contractors about the cost of repairs and whether you can fit it within your budget.
Tip #5: Purchase a personal title insurance policy.
While a personal title insurance policy is not required by Maryland Law to protect your investment, personal title insurance protects the purchaser of real estate against serious financial loss due to a defect in the title to the property purchased.
As the best professional law firm in Towson, MD, at Lebovitz Law LLC, we pride ourselves on assisting clients with a wide range of legal issues. Whether it is real estate, foreclosure, divorce, family law, or civil litigation cases, we are a team of experienced lawyers that will help guide you through the complex legal system. We offer you the answers you need to make informed legal decisions about your case. To learn more about what we do, please click here or get in touch with us here for any legal information you need.