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Tips for Buying a Home

A home is likely the biggest investment you will ever make. It is therefore essential to pay careful attention to all aspects of buying a home. Here are some legal rules and tips.

Contracts to buy real estate are valid only if in writing. In seeking to buy a house, you will be asked to put your offer in writing. If accepted, it becomes the contract.

The offer may be on a preprinted form, which can be hard to understand. So seek legal help and remember that even preprinted terms can be negotiated. Some rights your lawyer can put in the contract to protect you are:

A right to have your inspector check the house carefully.
A right to cancel if you cannot get a loan or sell your own house.
Assurance of no overdue taxes or liens on the house.
A refund of your deposit if the sale fall through.
Arrangements to share fees for items like escrow costs and title insurance.

Be sure to get legal help at the start of the transaction, when you are in a stronger position to negotiate changes.


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