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Kathleen's Buyer Tips
Professional Home Inspection It is a really good idea to get your property inspected by a professional before you buy. The purchase of a home is probably the biggest investment you will ever make. You don't want any unpleasant surprises. Even newly constructed homes can have major flaws. The small price you pay an inspector can save you thousands of dollars in the long run. A home inspector is typically contacted right after the contract or purchase agreement has been signed, and is often available within a few days. However, before you sign, be sure that there is an inspection clause in the contract, and be sure your offer to purchase is subject to your review and approval of a professional home inspection. To find a reliable inspector, you can ask friends, contact The American Society of Home Inspectors (http://www.ashi.com ) or we can give you recommendations. Plan on being present during the inspection, so that you can ask questions and learn more about the home first hand. If the inspection reveals problems, you have some choices. If no problems are found, you will have learned many things about your home, including what maintenance is necessary to keep it in good shape. A standard home inspector's report will review the condition of the home's heating system, central air conditioning system, interior plumbing and electrical systems; the roof, attic, and visible insulation; walls, ceilings, floors, windows and doors; the foundation, basement, and visible structure. Closing Costs On closing day, you officially become the owner of your home. It's important to understand and prepare for the costs associated with closing. Here are some kinds of the fees involved in a standard closing. Inspections - you may have already paid these costs. If not, they are collected at closing. Title Insurance - pays to research who legally owns the property and protects you and the lender against loss or damage if someone should challenge your ownership. Loan Origination Fee - This is the fee paid to the company originating your loan to cover their costs associated with creating, processing, and closing your mortgage. Homeowners Insurance - Your lender will require proof that you have adequate homeowners insurance. You may be required to pay the first year's premium. PMI - Private Mortgage Insurance is required by your lender if you put less than a 20 percent down payment on your home. Property taxes - These are based upon the purchase price of your home In a typical home purchase, closing costs equal about 2 to 5 percent of the purchase price of the home. You don't want to be caught short at this important time. Planning Your Move As with other parts of buying a home, it pays to know in advance what to expect when it comes to the actual move. We hope these tips and Internet references will help make your move more stress free. If you're moving with pets, here are some helpful website that give you tips on safely moving your animals. Humane Society, Altas ~ Moving with pets, Pets Welcome. You may be eligible to deduct some of your moving expenses from your income tax if: * Your new job or job transfer is at least 50 miles farther from your home than the old one was. * If you had no previous job, the new one is at least 50 miles from your old home. * You are in the armed forces and had a permanent change of station. Check out the IRS publication here (IRS.gov) for more information. * Put heavy items like books in small boxes. * Pack soft items like towels and stuffed animals in large garbage bags. * Drapes can be packed in wardrobe boxes, which can be purchased from a packing store. * Put plastic bags around the hoses of your washing machine and secure them with rubber bands to prevent leakage in transit. * Don't forget to back up your computer files before you pack. Below are some websites with more information about moving. U-haul sells boxes and moving supplies. Art of Moving has guidelines that can help you determine how many and which type of boxes you might need. U.S. Postal Service offers a moving resource guide, including a complete change of address package and services based on your zip code.
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