#4. Have a Pest Inspection
In certain areas of the country or for certain loan types you may want or need to hire a licensed pest inspection company. They’ll check your future property for contamination by flies, mosquitoes, cockroaches, fleas, rats, mice, bedbugs, termites, beetles, carpenter bees, ants, and other types of pests. There’s no need to explain how much harm even a small number of termites can do. These issues will lead to major repair expenses and even health issues. The presence of any kind of contamination is a subject of renegotiation of terms or a reason to rethink the deal completely.
#5. Fix All the Issues after the Inspections
If inspections reveal any problems, you may want to ask for a credit to cover the cost of repair or ask the seller to fix the problems. Some inspectors advise looking deeper into the issue. They may say you should ask for a second opinion or evaluate it further with a specialist. It’s highly recommended to discuss the estimates and fix the issues as soon as possible.
#6. Ask for Title Search and Insurance
Title insurance is needed to eliminate the potential of loss by third-party ownership on the property that you’re buying. Title insurance protects real estate owners and lenders against loss or damage due to liens, encumbrances, or defects in the title. Each title insurance policy is subject to specific terms, conditions, and exclusions. Auto and homeowner’s insurance protect against potential future events and is paid for with monthly or annual premiums. A
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