Buying a home is an emotional and stressful process as it represents a dream come true for you and your family. However, you should also remember that it's something that has a major impact on your life if the home isn't as it seems. Before you call the movers in Blue Bell, PA, you need to check your real estate contract to make sure that it has clauses that cover major and minor contingencies to protect yourself and your wallet from getting stuck with a lemon of a house.
Understanding the terms of a moving contract helps you keep the terms fair and equitable. It's a good idea to hire a real estate lawyer for this work, but you can help yourself by learning more about the terms and clauses that are common to a home sale.
Terms of Finance
This section outlines how you're going to pay for the house, and states the type of funding you'll be using. It also acts as an agreement that the seller has agreed to the fact you'll be paying up front in cash or that you're getting a mortgage. If you're getting a mortgage, the terms should include a statement that the sale is contingent on you getting the mortgage with a specified interest rate. For the seller, they get the clause that they can keep your earnest money if you fail to secure a mortgage according to the terms.
Closing Costs
A home sale includes many common fees that need to be paid by the buyer or seller. These fees include escrow, title search, recording fees, notary fees, title insurance, and more. It's not possible to avoid incurring these fees as they all represent an important aspect of buying a home, but the payment of them can be negotiated in the contract.
Home Inspection
The home inspection is a crucial part of the moving contract as it protects you from hidden issues in the home. Homes are made from materials that can deteriorate and contain major mechanical items that degrade over time. A home inspection uncovers these issues and lets you know if you should go ahead with the purchase or walk away as the repairs are too costly. Waiving the home inspection only serves to put you at financial risk because the problems in the home become yours after the sale closes.
Buying the Fixtures and Appliances
These items are sometimes included in the sale of the home, and sometimes they're not, depending on what the seller chooses to do with them. If the seller is willing to include them in the sale, make sure they're listed along with their price. Don't rely on a verbal agreement, as this isn't binding, and the seller can change their mind if they so decide.
Contingency Sale
In the event you need to sell your current home to get the funds to buy the next one, you'll need a contingency clause in the contract. This is a statement that you'll buy the new home, but closing is contingent on the sale of your existing home. The seller is agreeing to wait to close the sale on their home, and they can also go contingent on their next home. Meanwhile, this gives you time to get ready for the moving company in Willow Grove, PA, to help you with your move.
Getting Your Move Handled by a Professional Moving Service
At BR Moving in Philadelphia, we're a full-service mover with a fully-trained and professional staff that's ready to get your move handled with care and precision. Call us today to get a quote for our services and find out more about our moving procedures. We're here to answer all of your questions and explain how we provide a stress-free moving experience from one home to the next.
