The buyer acquires household insurance. The buyer chooses household insurance and arranges the purchase of the first year`s household insurance. The file must have certain clauses that assign insurance to you and the lender. Your insurance agent should know how to do it. The closing attorney must check the insurance link before it closes. The closure of the law firm includes a closure. Buyers should decide whether they want to act together as common tenants or tenants and include this information in the sales contract. Common tenants have the right to survive; When one tenant dies, the property immediately passes to the other without being an estate. In addition to an open review by the buyer, the lender must conduct an assessment.
If the valuation is not equal to or greater than the reported value of the home, it is the buyer`s purchase cost to offset the difference or negotiate a lower purchase price. The lender may also require the seller to impose repairs before closing before closing at the seller`s expense. If this is not met, the buyer is allowed to terminate the contract. A survival period limits the period during which a buyer can initiate litigation for breaches of insurance, warranties or alliances. Common survival periods are 12 to 36 months for general representations and guarantees, six months after the expiry of the tax statute of limitations and six months after the expiry of the applicable limitation period for basic insurance and guarantees, such as power. B to conclude the sale contract and ownership of the assets. The buyer calls the distribution companies to plan to assume responsibility for the supply invoices from the reference date. Buyers call the telephone, cable, electricity and gas companies to send the service to your name from the deadline. In some states and municipalities, significant tax cuts are applied when they are classified as houses. As such, the intention of the farm is outlined in the sale agreement.
A property is not qualified for the classification of the farm, unless it is inhabited by its owner or by a qualified relative. A property may also be eligible for farm classification when used for farms, but separated by a road. Neighbouring land, mainly used for gardening or storing the owner`s vehicles in a garage, could be considered, for example.B.