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Escrow, Inspections, and Appraisal
Once you’ve found your Lakewood Ranch dream home and your offer has been accepted, you will need to submit an earnest money deposit and then have the home inspected and appraised. The inspection will identify any potential flaws or hazards in the home which you can request be fixed prior to closing. The appraisal will verify that you are not overpaying for your new home.
Depending on the terms of your contract, either you or the seller will select a closing agent to perform the title search and closing. This can either be a real estate closing company or an attorney.
It is important to note that there will be costs associated with the closing agent, inspectors, and the appraiser. Make sure that you set aside enough money in your budget to pay for each of these portions of the transaction, not just your deposit.
If you are obtaining a mortgage to pay for your new Lakewood Ranch home, you will be required to purchase insurance on the property. The amount of insurance and price will vary but shop around and you could save hundreds or thousands of dollars on your policy.
Here are three additional tips to help you save on your Homeowner’s Insurance Policy:
- Opt for a higher deductible to lower your premium
- Safety features frequently found in Lakewood Ranch homes may qualify you for additional discounts on your policy
- Insure the house itself, not the entire lot too. Worst case scenario, if something should happen the land will still be there but the home may not be. There’s no need to overspend on too much insurance.
Need help finding the best homeowner’s insurance policy? We’re here to help! We will refer you to one of our trusted insurance agents that will take care of your needs.