How to Buy a House
The process of purchasing the real estate in the USA usually takes from one to three months. Registering the house to become the private property is the task of the specialized agency called Title Company. This company supervises the whole deal, stores the deposits, checks all the necessary documents and hands all the necessary documents to the buyer after receiving the required sum of money from him. This set of the documents includes the title insurance. These documents give the buyer the full set of the proprietor rights and prove the fact that the house bought is his property. After the mortgage loan have been paid off completely the buyer gets the absolute right of possession. The cost of the house is calculated according to the metric area of the living space. The following items are usually included in the total cost of the house: the fully equipped kitchen (the furniture, the built-in household appliances), bathrooms and the toilet rooms equipped with all the necessary appliances, facilities and accessories from the leading producers, central air and heating; balcony, verandah or terrace; garage or a parking on 1-2 cars.
Cost of housing pays off on metric area of living space. Into cost usually enters: the fully completed kitchen (the furniture, the built-in household appliances); bathrooms and the toilet rooms equipped with bathroom equipment and accessories from leading producers; central air conditioning and heating, balcony, verandah or terrace and a garage or a parking for 1 or 2 cars.
To buy a house you will need to complete all the following steps.
Turn to professionals
Sign a contract with the real estate agent or a broker for them to provide you the agency service.
Define and discuss with your real estate agent such questions as your wishes, contract term, your financial budget and your purpose of using the house you are going to buy. The real estate agent will show you all the possible variants and invite you to the fact-finding round for you to see clearly what estate are you able to buy for the defined sum of money. After that the agent will start to select all the possible variant and inform you about his work.
Sign the Real Estate Purchase contract
You will have to deposit $ 10 000. The most part of the U. S. Citizens who are going to buy a house prefer to avoid paying cash. You may use the money wire service provided by any bank to carry this financial operation out.
After that the house you have chosen has to be checked. That procedure is called Physical Inspection. It is fulfilled by a qualified specialist whose service costs $ 350.
The next step is to receive a Commitment Letter from the bank which allows him to get a certain sum of money as the mortgage loan to purchase the house. After that all the documents are handed to the lawyer which will help you to strike a deal.
Close the settlement
After you have signed all the necessary documents and the process of purchase has been completed you will have to register settlement and close the settlement.
Now you may receive the keys and transfer the money to the seller's account. The deal should be registered on the same day by the Title Company.
Don't be careless
Don't sign the contract with the doubtful agencies.
Don't sign whatever you are offered
Don't neglect the document checking.
Don't be afraid to ask questions
Don't keep silence if there are the points that you don't understand. The notary and other lawyers supervising the deal will explain everything for you. That is their service.
Don't pay off first
Avoid transferring the money before all the documents are checked.
Make sure that all the agencies which services you use are the reliable registered ones. Check all the companies carefully. Remember that it is quite dangerous to give the important document to the agents that look somewhat suspicious to you. In the case you are hesitating about the reliability of some company you may browse the official database and make sure that it is on the list of the registered companies.