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Dear Potential Home Buyer:
The intent of this letter is to give an overview about some important areas
concerning purchasing a home and how I may be able to assist you in the buying
process.
Listed below are some important issue to be aware of during the purchasing
process:
 | Disclosure of home defects is always an area of concern for a home
buyer. Be sure to inspect each home meticulously. Do not hesitate to ask any
questions concerning a potential house; problems that may have occurred in
recent years and anything that seems to be out of the ordinary in regards to
the home. It is recommended that you obtain a person who is knowledgeable
concerning home construction to assess the structural integrity of the home
and any noticeable defects prior to signing a sales agreement or as a
condition of the sale. |
| Prior to signing any sales contract, it is recommend to seek an
attorney's advice. If the buyer shows the purchase agreement to the attorney
prior to signing it, the buyer has an advantage in negotiating certain terms
of the agreement and has the first option in modifying certain parts of the
contract. |
| In regards to the sales agreement, some of the most common aspects of
the contract to be concerned about are: making sure language in the contract
obligates the seller to pay any and all previous liens attached the
property, to force the seller to fix any defects that need to be cured prior
to closing date, (without limitation on price) which work needs to be
reasonably acceptable to the buyers, clarify what fixtures are to be removed
and what will they be replaced with after removal, and state that the
mortgage clause should not be canceled automatically if the buyer does not
obtain an mortgage commitment. This allows the option for either party to
cancel and the sale of the home will not automatically cancel. Also,
if interest rates are rising, do not use "prevailing rates" in the contract,
but pick a maximum amount. These are only a few of countless provisions that
can be added or modified depending of the seller’s sales agreement. |
| Be involved in the process. The purchase of a home is the largest single
purchases a person is likely to make in one’s lifetime. Active participation
in the search of municipal records, asking questions concerning the
property, talking to neighbors and reviewing all documents will make the
process less overwhelming and more profitable for the purchaser of a home. |
Typically, a person who is considering buying a home needs assistance in the
purchasing process. An attorney’s advice and guidance is a valuable tool when
making one of the most important and valuable purchases of one’s life. I operate
a law office located in Collingswood dedicated to the personal comprehensive
representation for our clients practicing real estate law. Every person who is
represented our firm will be treated as individual and given the personal
attention only a small law firm can offer their clients. Some of the noticeable
differences are returning telephone calls in a prompt manner. Also, permitting
any client to call without the hesitation of being excessively charged or never
being able to personally talk to an attorney.
If you would like to learn more about my law office or have questions
concerning purchasing of a home, please contact Craig Knaup Esq. or Michael S.
Simone Esq. at (856) 833-1788.
In addition a good web site to review is
http://www.hud.gov/offices/hsg/sfh/res/sfhrestc.cfm
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