Photo by Phylicia Ghee for Live Baltimore
Passing Inspection & Closing
You’ve found your dream home! But is it a money pit? Rest assured with a home inspection.
Home inspectors are licensed professionals that have been trained to spot defects and needed repairs in residential properties. Some repairs found by an inspector are minor and can easily be handled by the buyer after closing. Major issues may be the responsibility of the seller.
Your home inspector will check out your home’s roof; HVAC, plumbing, and electrical systems; windows; doors; and other structural components to provide a detailed summary of potentially needed repairs. Identifying these issues early can prevent future headaches and provide you with an advantage in negotiating the final details of your home purchase.
Some loans and incentive programs require more rigorous “Housing Quality Standards” or HQS inspections. Consult your real estate agent and lender to determine which type of inspection you require. When hiring a home inspector, check their certifications against your needs.
After passing inspection, it’s time to close on your home with the help of a title company.
A title company will review your new home’s ownership records to make sure there are no liens or outstanding legal issues surrounding the home. If you are using down payment and closing cost incentive programs, your title company will also serve as the recipient of funds from the City or State.
You have the right to choose a title company with whom you want to do business. Your lender or agent may recommend a title company. We also suggest choosing a title company that is based in the Baltimore City and well-versed in city transactions—especially those that involve ground rent.
Don’t forget! Before you go to closing you will need to find a homeowners insurance company.
Shop around for the best price (and locally, if possible) but you may also want to consider bundling with your auto insurer. Insurers typically offer discounts for holding multiple policies from the same company. Ask your existing provider what potential savings you may be able to get from adding a homeowners insurance policy.
HINT: Your real estate agent may be able to provide referrals to home inspectors and title companies. Having a reliable source for referrals is one just more reason to work with a real estate professional when making any move.
Have more questions about finding a home inspector or title company in Baltimore City?
We’re here to help. Send us an email or call 410-637-3750 for one-on-one assistance.
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