I’m buying a SHORT SALE house. besides the standard home inspection ..what do I need to inspect?
Question : I’m buying a SHORT SALE house. besides the standard home inspection ..what do I need to inspect?
I’m buying a SHORT SALE house. besides the standard home inspection ..what do I need to inspect?
I’ve heard that I have to inspect the title of the house to make sure there are no liens, etc. how do I do this? Is there a service that does it?
Thanks
home inspection services
Best answer:
Answer by Professional Peon
Honestly if you don’t know what you are doing you should have a lawyer help you. The $ 500 bucks or so that you will pay for their help will do you a lot of good. Much better than asking on here.
The title company checks for liens by the way. An appraisal is always nice. You don’t want termites and if you have small children that like to stick things in their mouth you may want to check for lead paint.
That’ll be $ 200 bucks please lol.
This entry was posted by admin on October 6, 2010 at 12:18 am, and is filed under Property Appraisals. Follow any responses to this post through RSS 2.0.You can leave a response or trackback from your own site.
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#2 written by Richard Z 1 year ago
I would go to a title company and definitely buy title insurance. Because you are buying a PRE foreclosure, all secondary liens would stay on the house. For a house like this, and it being your first time, title insurance is a must. For a few hundred bucks you can have an attorney by your side instead of a clueless real estate agent for a few thousand dollars.
Good Luck to you
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First of all you need a lot of patience. Buying a short sale house is a very lengthy process. Before you create any costs, please make sure that the seller’s lender approved the sale and please make sure you have this approval in writing. After you have the seller’s lender’s approval for your contract you can start spending the money for the home inspection. In regards of title, liens, fines and other issues in connection with the property – please go through either a title company or an attorney. They will do a title search for you and will make sure that you have a free and clear title at closing, they will also be able to issue a title insurance – just in case they miss something in or with the title search. The title insurance will cover those issues for you.