After you sign a home purchase agreement (the contract between you and the seller about the terms of the pending sale), and before your lender approves your loan, the home you’re buying must pass an appraisal — an assessment of the property’s value by an unbiased third party: the appraiser.
The Coronavirus outbreak has generated a significant amount of uncertainty in financial markets and for the
global economy. The range of potential impacts varies wildly from forecaster to forecaster, but it has become
clear that this is unlike anything the U.S. has faced in modern history.
Closing costs are fees associated with your home purchase that are paid at the closing of a real estate transaction. Closing is the point in time when the title of the property is transferred from the seller to the buyer. Closing costs are incurred by either the buyer or seller.
Before you begin touring, research homes online and start narrowing down your must-haves versus nice-to-haves. Try to find homes to tour within your price range. When you get more serious about your house hunt, you’ll want a trustworthy real estate agent to help point out flaws, keep you within your budget, and tell you when to walk away.