Although I believe there should be, there aren’t any college or high school classes on what happens when you decide it’s time to buy your first home. There is so much more to it than finding a home with all your requirements that’s in your price range. One must consider the neighborhood they are buying into; the schools if there is a desire to build a family; how close or far they want to be to the beautiful city of Pittsburgh and so much more. However those are all subjects for another blog. For this blog post I will be listing and describing six important documents that the first-time homebuyer needs to remember, courtesy of Richards & Richards, LLP.
1. Seller’s Disclosure Statement – This is something you must read before making any offers because it describes the condition of the home.
2. Sales Agreement – This offer should always be submitted in writing and should include; the sales price, hand money, personal property included in the sale, inspections, contingencies, delayed possession, and closing cost credits.
3. Appraisal – This document is created by the lender and is used to confirm that the house is equal to or above the loan request.
4. Approval Letter – Once the lender has approved your request, make sure to get a mortgage commitment letter to send to the Seller.
5. Homeowner’s Insurance (aka Hazard Insurance) – Proof of this one-year insurance must be faxed to the Closing Agent before the closing. This can be paid either prior to the closing or included in the closing costs.
6. Final HUD-1 – This document is essential during the closing process because it lists all of your closing costs and amount of money that must be brought to the closing. You will usually receive this a couple of days before the closing.
There are additional things to remember of course like bringing a certified check to the closing; final walk-throughs; the different type of loans you can apply for; and remembering to get important items like all keys, garage door openers, security codes, etc. This of course is a lot to remember but it can be less stressful if you hire a Pittsburgh Real Estate Agent like myself. Let me help you make your first Pittsburgh Home buying experience a positive one!
Find a Pittsburgh Real Estate Agent You Can Trust!
My motto is ‘treating you like family’ so if you hire me to find your Pittsburgh home you can guarantee you’re hiring somebody you can trust! Don’t hesitate to contact me if you have any questions or need any more advice on listing your Pittsburgh home.
Until Next Time,