Property transactions, whether you’re the buyer or the seller, are always complicated. There are so many factors to consider, so many things that could go wrong, and so much shared information. These tips can help the average person during their property purchase:
Before the Sale
Before anything, you should consult a real estate law firm. They will put you in contact with an experienced real estate lawyer who is knowledgeable about real estate and personal property law. These lawyers can assist you throughout the entire transaction process.
The next step: get a home inspection. According to the National Association of Realtors, wholly 77% of homebuyers have an inspection done before the purchase is complete. The inspection is done early so nothing new and surprising comes up after the deal closes.
This is when you should begin planning the moving process as well. You don’t know when you’re going to need to move, but you do know it’s coming soon. Planning a few months in advance can ensure you’re not scrambling during the week before the move. Figure out where you’re going to store all your items in the days leading up to the purchase and exactly how you’re going to move everything.
During the Sale
Once you have entered the purchasing contract, you should specify the exact details with the other party and real estate lawyers. The closing date — which usually lasts between four and 10 weeks after the contract — should be outlined in these contract negotiations. Be sure to adjust any packing, storing, and moving plans once you figure out exactly when everything is going to take place. These dates can often be tentative as issues often arise, but it’s good to at least have an approximate timeframe.
After the Purchase
Once the sale is final and you are officially a new homeowner, there are still a few things you should keep in mind. It’s important to do one last inspection to ensure that there are no hidden issues that were kept from you during the initial inspection and negotiation. You should also stay in touch with your real estate agent and let them know how things are progressing in the new home. The entire home buying takes about 40 days to close, on average, so you have to act quickly during these weeks.
Although it’s a stressful time, once it’s all over, the only thing you’ll have to do is relax in your new home.