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. Presence of any kind of contamination is a subject for renegotiation of terms, or a reason to rethink the deal completely.
5. Fix All the Issues after the Inspections
If inspections revealed any problems, you may want to ask for a price adjustment to cover the cost of repair or ask the seller to fix the problems. Some inspectors advise to look deeper into the issue. They may you to 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 or liens on the property that you’re buying. A title insurance policy insures against past events for a one-time premium paid at the close of escrow. Title defects include another person claiming an ownership interest, improperly recorded documents, fraud, forgery, liens, encroachments, easements, and other items specified in the insurance policy. Each title insurance policy is subject to specific terms, conditions, and exclusions.
7. Conduct a Home Appraisal
A real estate appraiser is a state-licensed expert who determines the value of a certain property. The appraiser evaluates it based on general condition, geographic location, proximity to objects of interest, value of the nearby houses, recent sales, and neighborhood growth and potential, among other factors.
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