But it’s important to understand what a clear chain of title is and its importance in homeownership.
You may have heard the term “chain of title” but not really known what it means, even if you’re buying a house. It’s just one more legal term in a long list of legal terms at closing.
But it’s important to understand what a clear chain of title is and its importance in homeownership. You LOVE the house! You’re sure it’s the one, and you’ve gotten mortgage pre-approval. What should you do next? The first thing you should do is slow down.
Many bad investments have been made because a buyer “fell in love” with a home. We’re not saying that you shouldn’t get excited, but what we are saying is to do a deep dive on your research first. It will save you years and years of heartache just in case the house you first loved becomes a money pit. Here are 7 tried-and-true strategies to keep home buyers from making a costly mistake. Let’s say you want to get some ice cream. Which would you choose? Someone who said they had some for sale but had no ice cream shop? Or, someone with an ice cream shop ready to sell you a sweet treat?
The answer is obvious. You choose the one who has the ice cream ready to sell. Getting mortgage pre-approval is a lot like that. Maybe the rent has gone up again. Or you’re just tired of paying someone else’s mortgage and think it’s time to own your home.
Whether or not you’re ready to buy has a lot to do with your financial readiness. That’s a given, but there are other factors to consider when thinking about stepping into the world of first time homebuying. Let’s take a look at both by asking the 7 questions that help determine you’re ready for first time homeownership. |
AuthorLilly Title & Settlement wants you to be an empowered homebuyer! Archives
December 2023
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