Archive > May 2012

What to Do When Your Offer for a Bank is Accepted (6)

Standard Operating Procedure 4: Order a Title Search and Title Insurance Under no circumstances should you take a chance on closing without first obtaining the title report and title insurance. The purpose of ordering the title report and title insurance is to help you uncover any existing liens or judgments currently attached to the property.

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What to Do When Your Offer for a Bank is Accepted (5)

Standard Operating Procedure 3: Hire a Neighbor Visit the next-door neighbors and express your concern for the safety of your new purchase. Since you will be making improvements to what may be considered the neighborhood “eyesore,” the neighbors are likely to be extremely cooperative.

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What to Do When Your Offer for a Bank is Accepted (4)

If there were 12 unbroken windows in the house when you were the high bidder, then there should be 12 unbroken windows when you close on the property. If the property was boarded up, doors and windows were most likely removed first. You should request information about the location of those windows and doors.

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What to Do When Your Offer for a Bank is Accepted (3)

Standard Operating Procedure 1: Order Your Appropriate Insurance Prior to the closing, if you have not already done so when you executed the sales contract, you will have to purchase a property insurance policy. If you will be living in the premises, you will need a homeowner’s insurance policy (for an owner-occupied dwelling). If you […]

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