Three Parts of the House Buying Process You Might Not Be Aware Of
Buying a new house can be an exciting and nerve-wracking process. The fun of looking at potential homes may be tempered by the overall process which has several steps. Working with a realtor, visiting properties and securing a mortgage are well-known parts of the journey, but here are three steps that you may have not been aware of going in.
You generally can’t try on a house or take it for a spin. This is why an inspection is an important step in the buying process. When you’ve found the right place, hire a certified home inspector to check the building for signs of damage or issues. This pro does a complete examination of the structure from the foundation to the roof. Your inspector should check the HVAC system, electrical and plumbing systems, attic, basement, walls, ceilings and floors and provide a report for use in negotiating repairs and a final selling price.
When buying a new home, a land survey may be conducted. A licensed surveyor helps to confirm the limits of your property. Imagine building a residence that is partially on your neighbor’s land! This survey also reveals easements and restrictions on the land. For example, you might not be able to build a fence that would impede a utility company from accessing your home. A boundary surveying contractor near me Buford GA can help fulfill your survey needs.
Your mortgage lender will find an independent appraiser to estimate the value of your property. This third-party company researches the property to verify whether the price you’re paying (and the loan that the lender is providing) is a fair amount. Appraisers consider the size, shape and topography of your loft, as well as nearby amenities.
Buying a house can be a complicated process. It’s not like purchasing a car or major appliance. It’s important to be aware of some of the not-so-obvious steps such as the home inspection, the survey and the property appraisal.