Once you have made an offer on a home, and the offer has been accepted, the next step is the Purchase & Sales (P & S) agreement. The next step is to schedule a home inspection, conducted by an independent authorized inspector. It is extremely important to hire a reputable inspector so that you know exactly what you are buying. Do not hesitate to ask friends, family, and co-workers for advice. If the inspector finds problems with the property, you may want to negotiate with the seller to lower the price, or to pay for certain repairs.
Your lender will order an appraisal of the property. Appraiser's estimate the value of real property—land and the buildings on that land— before it is sold, mortgaged, taxed, insured, or developed
Lenders require that you have homeowners insurance, to protect both your interests and theirs. Like everything else, be sure to shop around for insurance that fits your needs.
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