Lake Texoma Cottage - well I super excited today! I put in an offer on a small house to use as an investment property/ family getaway / be-closer-to-the-lake-place and they accepted! Oh what fun this is going to be!
Now of course, it's time to do our due diligence. While the house does not sport a huge price tag I think it's always important to hire a professional inspector to scope out hidden issues that I might not have noticed along the way.
The next thing I'm doing is compiling a list of what I think it will cost to do the repairs/updates I want done to the house (of course, I had a basic idea before I made the offer). One thing I don't do (and I would recommend other buyer's bypass this as well) is to make the offer, then ask for lots of repairs after the seller has reached his bottom dollar. To me - it's just not nice. I think that the inspection period should be used to determine whether or not the condition of the house works for you or not.
Financing is something that long ago should have been taken care of (I'm an agent- of course this has been done). Don't even start looking until you have received a pre-approval letter from a great lender.
Find out if an existing survey is available - if not I would recommend that a survey be obtained (and if you're receiving financing this will be a must).
Make sure all disclosures are signed. CYB!!!
Review the title committment.
Call the utility companies at least 10 days prior to closing to make sure you don't wind up with no electricity after you close.
Get the cashier's check ready to take to closing (most title companies can not accept personal checks over $1,500).
Make appt. to do final walk through.
Woohoo! Close on the house!!
If I can help you or someone you know with real estate at Lake Texoma - I hope you will call me or visit my website!
Your Lake Texoma Real Estate Expert!