Check the Title of the Home Before You Buy

Are you buying a home with a realtor that was not involved in the sale of the home or a new home from a new builder that is selling the home without the title? In many of these cases, the sale of the home may or may not be properly completed.

The lenders and escrow companies sell these homes, plus many times you can find the same property listed for sale by all the major lenders in the area. Inspecting the Title

If you decide to buy a home for sale by owner, you must have the assistance of the listing realtor. It is recommended to inspect the property with a knowledgeable real estate agent so you can see if the title is clear. You will also want to see the creek paper and parcel maps.

Many questions may arise during the real estate closing including, bidding on behalf of the seller, the purchase price, inspections and financing. These questions can usually be easily answered if you have a knowledgeable Realtor. Remember that a new title is always a good thing. If you are planning to buy a home in which the lender did not close properly, you may have some extra problems.

How can I find out if a seller has a real estate title company attached to their name?

When checking for a new home, find out if the lender has completed a Title Closing, Inspection and Insurance. These are a must for all new construction financing. If you are hoping to do any construction financing, you will want to check with your mortgage company that the builder did not offer the seller any federal or state incentives. These incentives can also save you money. Next

Note the property taxes have not been paid. There are company offices and companies like the HMDA that keep track of this kind of transaction.

Do you have a foreclosure on the property?

It is important to know if the title is correct and the tile has been re-tainted and the property is not a subject property of some other lien. You may be responsible for this payment. This is specifically important with a unrecorded foreclosure.

What is the principal mortgage balance on the property?

Make sure you have the amount of the loan and the amount owed on the property to compare with the HUD property Analysis.

How old is the roof?

An experienced HUD Appraiser will be able to evaluate the structural damage on the roof.

What is the property zoning?

The Appraiser will make sure the property is zoned for the type of project that it will occupy. Within a county there are different types of zoning. Look up the zoning information according to the subdivision you plan to buy in. If the property will be subdivided as part of a planned development, look up the various plans for the project.

Is the property in a flood zone?

Fors crews will do an inspection of the flood zone based on the U.S.SD basically. Most of the time the property does not have a flood insurance policy, as more than 2.5 feet above the sea level the insurance covers, in most areas. These insurance policies are required to be maintained until all original costs are paid or the project is finished.

Where is the property located?

Look out for problems like the aforementioned things. Visit the boundaries of the property to look for cracks and faulty areas. Also compare theThrowaway Value, which is the fees the agent will charge you to not do a paid appraisal or inspection due to the unavailability of the property in this case.

Will I have access to access to Valley or sewers and water drainage?

The agent should be able to give you the details of the increases in size of these systems from the subdivision map.Ask how long it may take to connect to service contractors and plumbing contractors from your present utility. Also ask the price of the permits and other restrictions newspapers and other related to the time at which you are planning on the installation of the systems. You should make sure that you can install facilities such as sewer, water, and utility costs before you buy the property.

Is the dwelling really drafty?

Just a small energy restriction or fix something in the electrical system and you can run a normal heating or cooling system. Talk with the agent about optimizing the shut offs of the electrical system in the house before it’s too hot in summer and freezing in winter. Remember that having an efficient, yet inexpensive, cooling system will greatly increase the value of the property. You will also want to check if the utility cost is regulated or not. If so, ask more than once about the costs and any annual inspections.

What kinds of wood destroying pests live in the wood and under the roof of the house?

You will want to check for evidence of wood destroying pests. Typical pests encountered are: termites, powder post beetles, and carpenter ants.