Know Your Homebuyers Rights Before Closing and Don’t Get Left Out!

It doesn’t take much to feel out of your depth when it comes to buying a home. Slick realtors and TV show tycoons are just itching to trick you and stick you with the bill—preferably with a hefty fee tacked on for them! But all of this can be avoided if you know your homebuyer’s rights!

1. You have the RIGHT to shop for the best mortgage loan for you and compare the charges of different mortgage brokers and lenders. Look all around town, do your research: Liberty Lending has the best deals in town!
2. You have the RIGHT to be informed about the total cost of your home loan including the interest rate, points, and other fees. Liberty Lending is 100% up-front with any charges you owe and you’ll never get hit with a surprise bill.
3. You have the RIGHT to ask for a Good Faith Estimate of all mortgage loan and settlement charges before you agree to the home loan and pay any fees.
4. You have the RIGHT to know what fees are not refundable if you decide to cancel the home loan agreement. We hope you never have to, but sometimes these things happen.
5. You have the RIGHT to ask your mortgage broker to explain exactly what the mortgage broker will do for you.
6. You have the RIGHT to ask questions about charges and home loan terms that you do not understand. Not everyone is an expert in real estate, so don’t worry about having to ask!
7. You have the RIGHT to a credit decision that is not based on your race, color, religion, national origin, sex, marital status, age, or whether any income is from public assistance. We don’t hate, and we don’t discriminate!
8. You have the RIGHT to know the reason if your home loan was turned down. We won’t keep you in the dark!
9. You have the RIGHT to ask for the HUD settlement cost booklet “Shopping for Your Home Loan”. This informative booklet will tell you everything you need to know about shopping for your next home loan, and then some!
10. You have the RIGHT to be happy with your home loan! Stick with Liberty Lending and we promise you always will be!

Understanding Your Home Buyers Rights Before Closing

Purchasing a home is a significant milestone in anyone’s life, but the final stages of a real estate transaction or real estate contract, commonly known as closing, can be a complex process. It’s crucial for home buyers to be well-informed about their home buyers’ rights before closing, as they navigate the intricacies of the real estate transaction. Whether you’re working with a real estate agent, a lawyer, or both, knowing your rights and responsibilities is essential for a real estate contract.

The Closing Process and Key Documents

The closing process typically involves a series of crucial steps, from the initial purchase agreement to the final walk through. During this journey, several key documents and stages come into play. These include the purchase agreement, inspection reports, mortgage loan estimates, and a closing disclosure. Understanding the terms and contingency parts in your purchase contract, such as the appraisal contingency, is vital. The closing attorney or real estate lawyer plays a pivotal role in reviewing and explaining these documents, ensuring that you’re fully aware of your obligations and rights before closing day.

Protection Through Title Insurance and Legal Expertise

One of the most critical aspects of protecting your home buyers’ rights before closing is securing title insurance. This policy safeguards your interests in the property and ensures that there are no hidden claims or disputes concerning the real property or in your USDA loans Missouri. Collaborating with a real estate attorney, particularly in states like Florida, where real estate law may be complex, provides valuable legal advice and assurance. Your St. Louis mortgage brokers can also assist you in addressing contingencies and potential issues, such as a property tax, homeowners insurance, and liquidated damages, which could impact the purchase price. Being proactive and well-informed ensures a smoother home purchase and gives you peace of mind when closing on your new property.