Home Inspection Tips for Buying Your First Home

Whether you're thinking of buying a home for the first time, or already in the middle of the process, it can be exciting and overwhelming at the same time. If all goes well, buying a home can be one of the most important events in your life. 

Buying a  home inspection in orange county ca most important commitments you will ever make, which is why closing, the moment you become financially and legally obligated to your mortgage loan, can be very intimidating. Closing begins when the lender accepts your offer, and ends when you sign the documents. In between, there are several important steps you will need to take and services you will need to seek out.

• 5 Tips to Know how to Buy a Home
  

Whether you're shopping for a good mortgage or ready to close your deal, here are five tips to help you become a well-prepared buyer:

• Prepare in advance. Know what to expect and what questions to ask.
• Keep calm. Take as much time as you need to fully understand the documents you will be signing.
• If in doubt, ask. Don't be afraid to ask as many questions as you need to until you understand every detail.
• Be on the lookout for mortgage closing scams. There are scammers who hunt home buyers to close the deal, and they do it by sending deceptive emails (“phishing”). You can protect yourself and your money for a down payment, closing costs and your savings by taking a few simple steps.
• Trust your instincts. If something smells bad to you, say so. Retiring can be much better than closing a bad deal.

To help you learn what steps to take and what questions to ask as you navigate through the closing process, we offer resources to help you close with confidence, including a Step-by-Step guide to Buying a Home and a Checklist of Steps to Closing. We've taken the essential steps from both lists to close the deal on your home and offer them below:

To avoid any problems, please make sure your documents contain correct information and are complete. If you are self-employed or have irregular income, additional documents may be required, your loan servicer or housing counsellor can better guide you.

If you received an Initial Loan Estimate, please wait for a review. Since the lender now has more complete information, some costs may be adjusted.

• Make an Appointment for Your Home Inspection
  

One of the first things you should do once your offer on the home is accepted is to get an accurate appraisal of the condition of the property.

Many buyers seem unaware that finding a home inspector is part of their responsibilities. Your realtor or real estate agent may be able to recommend one, but it is very important that you get someone who is honest, does a very detailed inspection, and answers only to you.

In addition, inspecting the home promptly will give you time to identify any problems that may exist so that you can negotiate a repair with the seller, or obtain a discount in the price for it. If the contract is tied to the result of the inspection, this would give you the opportunity to withdraw from the business if you find significant problems with the home.

Tip:  Read online reviews written by home inspector clients, including listings from your local Best Business Bureau, and seek referrals and recommendations from family and friends.

Your mortgage lender will require you to have homeowners insurance before signing your loan to ensure your property is protected. If you don't buy it yourself, your lender will do it for you and build a fee into your mortgage payment. This is usually more expensive than any insurance you get and may only cover the lender and not you. Your lender may also require you to purchase specialised earthquake and flood insurance, events typically not included in standard insurance coverage. Once you've received offers from different providers, you can share them with your loan servicer to ensure that the They meet all the requirements.

Buying a home can be intimidating,home inspection in orange county ca especially for first-time homebuyers, but a little knowledge and preparation can help you succeed. Start by learning about these common mistakes to avoid.

• Skipping the Home Inspection

A home inspection is an extra expense that not all first-time homebuyers may be aware of and some may feel it isn't necessary. After all, you have seen the property and nothing seems amiss. However, professional inspectors often notice things that most of us miss. So this part of the process is especially important if you're buying an existing home (rather than building a new one, which may include a builder's warranty). If the home needs major repairs that you can't see with the naked eye, the inspection will help you negotiate repairs with the current homeowner, or adjust the price accordingly.