home buying process
first time buyers
why use a realtor
obtain financing
search for property

offer to buy

get protection

the closing




Protecting your investment


Certain cosmetic repairs, like a fresh coat of paint or new carpet, may cover up serious flaws. That is why we recommend that you get a professional home inspection. In addition, a home warranty will give you peace of mind, while homeowner's insurance will help protect your most valuable investment.

Home Inspection
While you can see for yourself many flaws in a house, the practiced eye of a professional inspector can probably spot more, especially in areas not easily accessible to a home buyer. A professional home inspector surveys the foundation and structure, roof, exterior, major systems (electrical, heating, cooling and plumbing), and appliances that will stay with the home.

Tour the house with the inspector, who will point out potential trouble areas, as well as what's "sound." If the inspection does turn up some flaws, a seller is often willing to make repairs, but it may depend on market conditions. Take notes as you tour. Get the inspection report in writing. This document will support or deny the contingency addendum to your agreement.

You can add a home inspection contingency to your purchase agreement. This requires the seller to make legitimate repairs - or if the seller is unwilling to do so, it allows you to cancel your agreement.  Depending on which contract is required, a seller is only obligated to repair those items that are considered a "defect".

An inspection may take a few hours and cost a few hundred dollars, but it can save you time and headaches in the long run. Specific information could even reduce the price of a house if the seller will agree the price has not already been discounted for defects. We always recommend you get your own inspection with your own inspector. Ask your MAINGATE real estate professional for a list of professional inspectors in your area.

Home Warranty
A home warranty repairs or replaces a home’s major mechanical systems and appliances for a specific length of time, a year in most cases. This is a home buyer’s best defense against expensive repairs or complete replacement of major items, such as a roof, furnace, or washer and dryer. If the seller is not offering a home warranty, you can still ask for one as part of the contract. Or you may purchase a home warranty for yourself. Ask your MAINGATE sales associate for more information on home warranties.

HomeOwner's Insurance
Your home typically is the single biggest investment you'll ever make. By protecting it with homeowner's insurance, you'll have financial protection against the unexpected. Most lenders require a home buyer to provide a one-year paid receipt for a fire and hazard insurance policy at closing. Fire and hazard insurance provides protection for fire and other perils to your home and its contents. Aside from protecting your home and your possessions, it provides you with liability coverage. These policies are available from the insurance company of your choice.





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