The Home Purchase Process - Step 5

Step 5: Inspection & Insurance

After your offer is accepted you will need to set up, coordinate and interpret various inspections, including insect, building quality, oil tank, title, etc. You will also need to arrange for homeowners insurance to finalize the mortgage.

I cannot emphasize enough the value and necessity of an extensive home inspection. Many home purchasers, either in the desire to save the $200 to $500 that a good inspection costs, or due to simple ignorance, have spent enormous sums of money repairing items that any good home inspector would have pointed out. Any offer to purchase you make should be contingent upon (subject to) a whole house inspection with a satisfactory report.

I can help make these discussions go more smoothly. You will also have the option of a "walk through" before the closing. This is your last chance to make sure that all of the items that you have agreed upon were completed to your satisfaction.

>next step

Step 1: Defining What You Want
Step 2: Figuring Out What You Can Afford
Step 3: Shopping For Homes
Step 4: Making An Offer
Step 5: Inspection & Insurance
Step 6: The Final Closing