You've found it! Now what?
It's time to get started understanding each step in the home buying process. Select each to help guide you through the process.
Other Important Details
Once your loan has been approved, the termite inspection and survey will be performed. These items are delayed until after the loan approval to avoid incurring any unnecessary expense. The actual termite inspection takes about 15 minutes. The inspector will check for signs of termites and termite damage in the basement and crawlspace as well as in the house. If termites are found, the seller will be required to repair the damage and to treat the property. The mortgage inspection survey will show the boundaries of your new property as well as the footprint of the home, the set back lines, and any easements and encroachments. In the past, every lender required a mortgage inspection survey. They seem to have relaxed this requirement in recent years, but I believe that a $350 survey is an important guarantee against unnecessary surprises.
