Things you may want to learn about before making an offer:
You’ve found a property you like and are getting ready to make an offer. You may want to find out or ask your Realtor a few questions about purchasing real estate in general. Here are a list of some of the important questions. You may also want to read my related posts: “what you may want to know about a property“, “what to ask your lender“, and “what you need to know to make an offer”
- What is an earnest money deposit, should I make one, and how much?
- What is radon? Asbestos? Mold?
- What are termites and other wood destroying insects in my area and what kind of damage can they do?
- What is lead based paint and how can it affect me? If I buy a home built before 1979, why am I being warned about lead based paint?
- What is a home inspection and how can it help me? What are other inspections I can have?
- What is a home warranty? How much does it cost? What does it cover and for how long?
- What is a contingency on a purchase agreement and how does that affect me?
- What is an “Agency Relationship” and how does that affect me?
- What is a “Title Insurance Policy” and how does that affect me?
- What could someone resell the property for?