| When buying or selling a property, it
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| | Details vary. Usually there is a
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| always helps to have a basic
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| | deductible amount. They can be bought by
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| understanding of real estate terms. In
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| | the buyer or by the seller for the buyer.
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| this on going series of articles, we take
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| | 3) Limited Power of Attorney - a writing
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| a look at definitions starting with "home
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| | which gives another person the legal
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| inspection."
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| | ability to act for and sign papers for
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| 1) Home Inspection - an inspection of the
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| | the buyer or seller in connection with
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| condition of a home. They are done item
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| | the purchase and sale of a specific real
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| by item, from roof to foundation, and
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| | property. (An example of this happened
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| include looking closely at things like
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| | last summer when a friend of my son's
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| plumbing, heating, air conditioning,
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| | gave his wife a limited power of attorney
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| sinks, tubs, and faucets, and any
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| | to enable her to finalize the sale of
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| appliances which convey. The general
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| | their home after he left for Iraq with
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| concept is that the home inspector is
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| | members of his National Guard unit. A
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| trained to spot problems that typical
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| | happy postscript is that the young man
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| Susie and Sammy Homebuyer are likely to
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| | has now returned home.)
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| miss. They are not usually intended to
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| | 4) Personal Property - appliances which
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| bring up discussion about items Susie and
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| | are not built-in, play equipment which is
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| Sammy can easily see for themselves like
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| | not attached, furniture, plants in
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| the color of the wall paint or what the
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| | containers.
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| carpets look like.
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| | As you can image, there are many real
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| 2) Home Warranty Policy - an insurance
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| | estate terms for which you have a general
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| policy which pays for repairs to the
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| | understanding. In our next article, we
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| working systems (heat, air conditioning,
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| | continue with the terms starting with
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| plumbing, etc.) and appliance repairs
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| | "Pre-Approval Lender Letters.
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| during the first year of home ownership.
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