Becoming a homeowner is supposed to offer security. You invest in a property and then spend your time and money maintaining or improving it. That effort pays off with increased property value. Over time, you can either choose to cash out some of that equity when you get older or sell your home for a profit and downsize as you age.
IT PAYS TO COMPARE!
The following is a true story. The names have been changed to protect the innocent (in this case, the real estate buyer). One day last week, a client of mine called me to let me know that her offer on her new house had been accepted and she wanted my office to order the title insurance. I asked her to have the realtor forward me the agreement of sale so I could commence protecting her interests in purchasing her home. I informed her that our title company, Heartland Abstract, does not charge the $200 to $350 in "junk fees" (settlement fee, wire fees, UPS fees, document preparation, e-doc delivery, etc.), so she would be able to utilize the cost savings to purchase some personal items for the house, like perhaps a television or some window treatments. She was very excited and told me she would have the document sent to me.
Owning property is often far more complicated than it seems at first. Many property owners throughout the years have found what seems to be a perfect deal and signed on the dotted line, only to find that an easement affects how they may use it, or allows someone else access.
The sale of a home can fall through for a number of reasons, including financial difficulties, buyer's remorse and inspection problems. By being aware of these common pitfalls and working with an experienced attorney, you can help ensure that the transaction goes smoothly.