Purchasing property is a huge investment that has the potential to give big returns. When you find the perfect place, however, it is important to follow all necessary steps before closing on the deal. Getting the details right from start to finish will help protect you and your investment. Never buy a property without completing these steps first!

Never Buy a Property Without Doing First: Inspecting the Home 

A home inspection is a thorough assessment of your home’s physical and mechanical systems. An inspector will look for potential problems which could influence your decision to buy or lower the selling price. The seller may provide inspection results of their own, but you are entitled to ask for your own independent party inspection. The inspector will compile a list of all potential and current problems. For your benefit, it is critical to have a home inspection done, no matter what.

Get the Property Appraised 

A key part of buying a home is having an appraisal conducted. An appraisal is an independent, unbiased assessment of how much a property is worth. An appraisal gives you professional insight into how much a property is really worth. Taking the time to conduct an appraisal makes sure you do not overpay for a property. Most mortgage loan offices require you have an appraisal done before approving you for a loan. You can save yourself money long and short term by getting an appraisal done.

Never Buy a Property Without Doing First: Check The Title 

Once the home has passed a safety inspection, it is important to conduct a title search. A title company investigates title legitimacy, use restrictions, unpaid taxes on the property, or any other concerns that they may find. Conducting a title research will protect you from lapses by previous owners. Getting title insurance to protect you from things like unpaid taxes is also a wise investment. Checking the title for tax and use information is just as important as checking the structure of the home.

 

When you have jumped through all the hoops, inspected the home, had the property appraised, and checked the title, you are ready to sign on the dotted line. Purchasing a property is a huge investment and should be exciting. Don’t rush the process, as taking your time helps you uncover potential issues before they become your problem. Waiting to find the right property that checks all the boxes will be well worth it in the end.

Read this next: Factors That Matter Most When Getting the Best Price for Your Home

See you at a meeting soon!

The Southwest Florida Real Estate Investment Association is the leading source of SWFL real estate investing events that provide investment education and networking in southwest Florida. We analyze the housing market and foreclosures and provide information, education and networking events in order to build a network and knowledge base for investors and potential investors. Our members include real estate agent, brokers, investors, hedge fund managers, rehabbers, wholesalers and more.

Our SWFL REIA General Meeting is held in Fort Myers where we provide education on hot topics in investing and an opportunity to enjoy the camaraderie of your fellow investors. You’ll get a chance to ask for advice from successful real estate professionals and even make a few deals on your latest projects.

To become a member, anyone can register as an individual, a couple, or a corporation. Being a member opens the doors for endless networking opportunities, advice from members with decades of experience, new ideas from entrepreneurs, camaraderie with those just beginning, and deals and contracts done in the meeting room. For those interested in Cape Coral rental property investment and/or Fort Myers rental property investment, SWFL REIA will be able to provide a network to help launch a successful investment career.

The SWFL REIA is known and respected as a source of current, actionable and useful information about the housing market in the area that we meet.

We meet twice a month.

Click here for information about the monthly luncheon.  

Click here for information about our nighttime general meeting. 

One of the premier sources for real estate investing networking and education is the SWFL REIA. In the real estate world, the SWFL REIA is different in that they do not do information product sales. Their meetings are focusing on the best ways of investing in real estate by collaborating with other property investors who are sharing their experiences.

We look forward to meeting you at a meeting soon!
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