maintenance and repairs hanging over their heads. A home warranty is a way of protecting yourself from expensive, unexpected repair bills. Depending on the local market as well as on the deal, the home warranty can be paid by either the seller or the buyer. A home warranty paid for by the seller can be a negotiation point offering to protect the buyer from having to do any additional, expensive repairs to the house after the deal is closed. The cost of a home warranty is generally not too high, often between $350 and $600 depending on the coverage and size of the house. The payment must be made one year in advance. Be careful when choosing a plan because there are many existing coverage differences. Pay attention when reading the fine print relating to the conditions for coverage and the reasons claims may be denied. The secret to getting a good insurance plan rests in dealing with a reputable company and knowing all the details.
ABOUT THE APPRAISAL
A real estate appraiser is a state-licensed expert who determines the value of properties. When it comes to closing a real estate transaction, both the seller and the buyer put their trust in his or her evaluation. This procedure is meant to protect the buyer, as well as the bank that offers the mortgage loan, from purchasing an overestimated and overpriced piece of real estate. The appraisal report is required by the bank, and the cost is included in the mortgage cost. The appraisal expert evaluates the property using one of these two methods: the sale comparison approach (compares your home with other similar ones that were sold in the area) or the cost approach (used mainly for new buildings, this method evaluates the cost of replacing the structure of the home).
TO REACH THE FINIS CH THE FINISH LINE
Until the closing statement is signed by both you and the seller,
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