When you make an offer on a Texas home and a buyer accepts, you may think that’s all you have to do in order to get the keys and start moving in. In most cases, there is a 30-day waiting period between acceptance of the offer and the closing, which is the very last step before the house is officially yours. A month is not a lot of time, but a lot of things can happen between now and then.
There are certain steps that will take place before closing. You may not experience any problems or setbacks, but you would be wise to prepare for the possibility that you could experience some problems along the way. If you encounter problems between now and the closing, it is still possible to address these things effectively and finalize your purchase.
Is there damage?
One of the most common reasons why there are delays with closings is damage found in the home upon inspection. This may affect the value of the house, which could impact what you want to pay. Sometimes, the homeowners will fix the problem or give you money to address the issue once you move in. In severe cases, it could cause you to back out of the contract.
A termite inspection will also happen, and if there are signs of damage or an infestation, the sellers will have to consider options for remediation. You do not want to buy a home with termite problems, as this can be a very serious issue to address in the future.
Are there problems with the title?
If there are issues with the title, such as an active lien on the property, it could affect your ability to move forward with the purchase. This is a complex legal issue, and it is often necessary to rely on the guidance of an attorney to find the right solution to a title problem.
Protecting your long-term interests
Buying a home is a significant legal and financial transaction. There is a lot at stake when you take this step, and this is why it is important to look for ways that you can protect your interests when problems arise. From the initial steps of drafting a contract to dealing with problems that arise before closing, you do not have to face any of it alone. With appropriate legal guidance, you can move forward with confidence regarding your long-term security and well-being.