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5 Things You Need to Do Before Placing a Home Offer

Monday, July 25, 2022

In June 2022, home sales totaled around $5.12 million, meaning many people bought and sold homes. 

Buying a house isn't an overnight event, as you likely know. First, you'll have to shop for a house to find the right one, and then you'll have to complete some steps before placing a home offer.

So, what steps do you need to take before putting in your offer? Keep reading to learn about the top five things you should do before you write your offer.

1. Analyze the Location

One of the top home offer tips is to analyze the location before placing your offer. After all, you can't change a home's location, yet it affects most parts of your life.

For example, it affects your commute time to work. Additionally, it affects your property tax amount and safety. Therefore, finding a home with an ideal location is necessary. 

2. Walk Through and Inspect the House

Another one of the top home buying tips to know before writing an offer is to walk through and inspect the home first. A home is a large investment, and you can avoid buying a lemon through the proper inspection activities. 

You might want to bring a contractor or friend to see the house, as this offers another opinion of the home's condition. 

3. Research the Home Title

Next, you might want to research the home title before putting in the offer. A defective home title is a problem, but you can avoid this by performing a title search. 

You can perform this by hiring a title company. A title company can also provide home title insurance for the house. You can choose from several options, but the best is enhanced title insurance

4. Consider the Contingencies 

Additionally, you might want to consider the contingencies with the offer. Contingencies are standard with home offers, and you can choose which ones to add.

The home-buying process involves choosing an existing home to buy. The downside is that the home might have some issues or needs. You can ask the seller to fix these issues through contingencies.

You can also add other types of contingencies. It might be helpful to ask your realtor to learn more about these.

5. Get Preapproved for a Loan

Finally, it would help if you visited a mortgage lender for a preapproval. Getting preapproved is a vital part of the home-buying process, as it shows the seller that you can get a loan.

However, the preapproval process takes some time. Therefore, you might want to start working on this sooner rather than later. 

Take the Proper Steps Before Writing a Home Offer 

Did you find the right house to buy? If so, you might be ready to put in a home offer. But, you'll want to complete these steps before you do. 

If you need assistance with the offer or title work, contact us at Heartland Abstract. We're located in Pennsylvania and can help you with all the title work and research you need for your home purchase.

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