Buying a home via Moorpark realtor is a big deal, and if you’re like most people, it’s probably the biggest purchase you’ll ever make. So you want to be sure that you’re making the right decision—and that it’s not going to cost you more than it’s worth.
Here are some key legal considerations to keep in mind when buying your first home:
- *The seller will likely be required to provide a title search and title insurance prior to closing. You’ll want to understand what these entail, as well as what they do not cover—such as issues with the property itself (roof or foundation) and previous liens against the property.
- You’ll also need an inspection of the home by someone other than the seller or agent. This person will inspect the property for defects that may not be visible from the outside, such as termites or mold.
- You may choose to hire a lawyer or escrow officer (someone who handles all the financial transactions for both parties), especially if there are issues with financing or if there are questions about whether something is included in the sale price (such as appliances).
- If you’re buying an existing home from an individual seller, make sure that person doesn’t have any outstanding debts or liens against them before signing anything legal paperwork together with them (especially if it involves money). You’ll want to check county records for any unpaid taxes or other debts owed by this person before committing yourself financially towards purchasing their property outright – otherwise, your own credit score could take a hit if something happens later down the road and your lender finds out about these issues first hand!
- If you’re buying a home with others as a team, make sure to have a written agreement that states the details of how ownership will be divided between all parties involved. Each party should have their own attorney review this agreement before signing on the dotted line. Having a written agreement can help protect everyone involved in case something goes wrong down the road.
Whether you’re a first-time homebuyer or an experienced homeowner, legal considerations are always an important part of the process. Keep them in mind as you go through this exciting yet sometimes difficult time. It will go far in helping to protect your financial interests and make the process go smoothly.
Meryll Russell has been a Realtor since 2004 and got her Broker’s license in 2019. She has sold homes all over Southern California. Meryll received her Bachelor of Science in Business Administration with an emphasis in Marketing from USC. She loves handling the internet marketing & social media aspects of our business. Her first job out of college was working for IBM selling personal computers. She has over 20 years of sales and negotiation experience.
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