Buying a home is one of the largest financial commitments you’ll ever make. It’s crucial to ensure you’ve done everything possible to protect your investment before closing the deal. After agreeing on a final selling price, you will have a due diligence period to check that the real estate transaction is in your best interest. In Massachusetts, this time frame lasts from the minute the seller accepts the offer until the last contract contingency is removed. Below is a quick guide to what you should do before signing. 

What to Do Before Closing on a Property

1. Schedule a Home Inspection 

Buyers have the right to schedule a thorough inspection of a property before completing any home purchase. A professional will assess the overall condition of the house and all its components, including the roof, electrical, HVAC, plumbing, and appliances. Doing so identifies any significant problems and gives buyers leverage to renegotiate the terms of the real estate transaction to account for repair costs.

2. Research the Neighborhood 

It’s common to check out the neighborhood during the initial home search. However, now is the time to make sure it’s truly an area you will be happy living in. Research the crime rates and school district. Determine your commute to work, public transportation options, and the distance to the community’s nearest amenities. 

3. Purchase Homeowners Insurance 

This is also the time to make sure you have adequate insurance for the new home and all your belongings. Your mortgage lender will require you to carry a sufficient amount of coverage to protect their investment in case of a disaster. Begin shopping around for providers and get quotes to see what your policy premium will be. 

4. Conduct a Title Search & Property Survey

A vital part of the closing process is having a title search done on the home. It determines if there are any outstanding liens on the property or other issues that could complicate the transfer of ownership. Have a professional perform a survey to check that the property’s boundary lines are clearly defined, and you’re getting what you’re paying for. 

Doing this due diligence before finalizing a real estate transaction is the only way to ensure you know what you’re buying. The legal team at Bernardini Law P.C. will guide you through this process and ensure you’re well-informed and satisfied with the deal. They have represented homebuyers and sellers throughout Essex County, MA, since 2011 and offer extensive knowledge on the laws involving such matters. Call (978) 794-5525 to schedule a consultation, or visit them online to learn more about how they can assist with real estate transactions.