Purchasing a home will likely be one of the largest financial decisions you make in your life. Issues can arise during all stages of home buying. Deciding where to live may be the first question to answer, but make sure you know how to pay for your new home, how to make an offer, and how much should your offer be. Also, ensure the house is inspected, deed prepared, and repairs made all before the closing. It is important that you have protected yourself before you sign any final documents. Make sure you know the answers to potentially damaging information such as:
1. Are there any zoning violations with the property?
2. Are there present or past environmental hazards a problem on the property?
3. Are there covenants or restrictions on the property that would limit my use of the property?
4. Will my mortgage change over time? Can I afford to make all the payments over time?
5. Are there potential issues with the chain of title to the house that may interfere with my full ownership of the property?
6. Is the property value estimate accurate?
7. What are the real estate taxes in my area?
Owners can protect themselves from these issues and others by taking the time to find all the information about buying real estate and discussing any potential problems with a real estate lawyer.