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Step 7: Title Policies
You found the house you’ve been looking for! You’re serious about buying this house; in fact, you’ve already put down earnest money, the option fee, and even gotten an inspection.
The inspection is such an important part of the buying process. A qualified inspector will evaluate the property’s condition with honestly and neutrality. The assessment may come back with all sorts of comments, especially in older homes. Don’t be intimidated—all homes, even brand new ones, have defects, and finding imperfections is what inspectors do!
Your inspector should offer to explain any component of the report to you. Pay attention to anything that may have an associated health risk, like electrical faults, some types of mold, or a flawed hot-water heater. You’ll also want to closely evaluate items that may be immediate big ticket repair items—like a leaky or damaged roof, foundation issue, or a major plumbing problem.
Have your dfwREALTORS.com - MetroTex Member provide a written copy of the inspection report to the seller. Get estimates to fix the reported problems and ask the seller to make the repairs or adjust the price accordingly.
Be sure to confer with your dfwREALTORS.com - MetroTex Member and ask for advice—your REALTOR® has the knowledge and experience in contract negotiations to get you the best deal possible.