There’s little more exciting than buying a home. At the same time, the process is full of many twists and turns. Not to mention the fact that you could run into one challenge and complication after the next.
It won’t take long for you to realize that there are many documents associated with buying and closing on a home. While it doesn’t sound necessary, it’s critical that you review each and every document to ensure that nothing slips through the cracks.
Here are some of the many documents that require your attention:
- Title search documents
- Closing documents
- Financial documents
- Inspection documents
For example, if you don’t carefully review all documents associated with the title search, you could end up buying a home that costs you money at some point down the road.
What about new construction?
Just the same as an existing home, you must take extra caution when buying a new construction home.
Don’t assume that everything will go smoothly because you’re not dealing with the previous owner. You could still run into trouble, such as with:
- Zoning issues
- Homeowners association issues
- Construction defects
- Construction disputes
- Financing
Take, for example, a newly constructed home that was not built to industry standards. While you hope that your builder will make things right before you close, you may soon come to find that they’re dragging their feet.
It’s common for them to ask you to wait until after closing to address the issues at hand. However, if you do this without taking the proper precautions, you could find yourself at a disadvantage in the future.
So, even though a newly constructed home hasn’t been lived in by someone else, there can still be issues leading up to and during your closing.
Read every document from start to finish, making note of anything that doesn’t add up. Once you receive clarification, you can then move on.
Should you find something that’s wrong or you don’t feel comfortable closing, take a step back to consider your options. You have legal rights and you want to protect them at all costs. This is too big of a purchase to do otherwise.