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by Lucy Harr
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Shop around for a mortgage. If you need assistance in comparison shopping, check out the following websites: Quicken Mortgage E-Loan homepath.com You also will need to provide proof of homeowner's insurance; your insurance agent will have the proper forms. (Comparison shop for insurance, too!)
If your offer is subject to an inspection, you usually are responsible for making the arrangements and paying for the service, although sometimes it's negotiable. A list of home inspectors can be found in the yellow pages; ask for references.
The owner will make the arrangements for closing the deal, including title insurance, meter readings, etc.
Often, the owner works with an attorney. You also may want to consult with an attorney or legal services agency. This need not be expensive, especially if you get organized before you seek advice. Write down your list of questions ahead of time and have copies of any pertinent documents with you. Your attorney and/or the owner's attorney also may attend the closing.
Remember, no one knows more about the house than the owner. Buying from the owner gives you the chance to ask questions directly.
Copyright © 1998 Providing Solutions
Lucy Harr is the proprietor of Providing Solutions, a communications consulting firm specializing in personal finance topics.
She sold her Madison home through fsbo Madison in 1998. |
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