You need an appraisal (in your agreement) contingency to make sure you do not overpay.
You really want a house inspection. You do not want to buy a house that needs $34k of repairs not knowing it.
You need to have a title search done and buy title insurance. Compared to the risk of not owning the house you just paid for it is cheap.
Get a CLUE report. It is an insurance report showing the past claims on a property. If it has a bad history you could pay excessive amounts of insurance premiums.
Below is an important blog to read. I had no idea this even mattered before I saw it.
A basic overview of the normal home buying process
Questions I would ask when buying any property. It can save you some very annoying problems if you do the research first.
Your first step is to get pre-qualified or pre-approved for your mortgage. Look at homes on this site and owners.com to get comparable data on homes for sale and those that have sold (Trulia has this). If your county or town lists their tax parcel information online, you can also look up homes in the neighborhood and what they sold for as well as when they last sold.
always as questions :)
Call me and I can walk you through the process. I am an experienced certified buyer's agent and can work on your behalf putting your interests first when purchasing a property.
Lic. Associate Broker
Prudential Douglas Elliman RE
Another option is to hire a REALTOR who represents YOU as their client in the purchasing process. This REALTOR would be a Certified Buyer Representative (CBR) and is commonly known as a Buyer's Broker or Buyer's Agent. This agent would let you know what comparable homes in the neighborhood have sold for, would negotiate on your behalf with the goal of your obtaining the home for the least amount of money possible, would counsel you and be with you each step of the way from offer to closing.
If you would like additional information on hiring a Buyer's Agent, please contact me by phone directly at (516)410-3594 or by email at Arlynn@ArlynnPalmer.com.
In the meantime, please visit http://www.ArlynnPalmer.com where you will find FREE Buyer Reports, FREE School and Neighborhood Information, the Monthly Newsletter and other valuable real estate information.
Arlynn B. Palmer, ESQ, SRES, CBR, CMS, CNS
Associate Broker, REALTOR
Coldwell Banker Claire Sobel
I know that my profile says CT, but I am from LI and actually live very close to Hempstead. Contact me through my profile and I will give you as much guidance as I can.