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Closing on a New Home: The Steps to Closing on a Home


The Most Important Details of Closing a Real Estate Deal.

There are a few important matters to take care of between the day your offer is accepted and the day you hold the keys to your new home. The most important are:
Inspection. Imagine the poor soul who makes the largest purchase of his or her life without thoroughly inspecting the goods! Major flaws are not uncommon, especially in older homes, and you'll want to know what you're dealing with up-front.

Appraisal. After you apply for a loan, the lender will call for an appraisal of the home's market value; no lender wants to lend you more money than the home is worth.

Title Insurance. Title insurance protects you (and the lender) should something in the property's history threaten your ownership rights.
Homeowners Insurance. If you are applying for a mortgage, the lender will insist you buy homeowners insurance. This insurance protects not only your home, but also your personal belongings inside.

Pre-Closing Checklist. A list to help you keep track of all the hoops you're jumping through during the pre-closing process.
Click on the above links to find out more. Or call a real estate attorney, who can advise you on all of these steps.