Purchase Inspection

After purchasing a home, verify the final walkthrough to confirm the property's condition matches the sale agreement. Review the title insurance to ensure there are no liens or disputes. Confirm the mortgage terms, including interest rates and payment schedules, with the lender. Set up home insurance and arrange for a professional home inspection to identify hidden issues. Monitor utility accounts and subscriptions to cancel or transfer them as needed.

Post-purchase verification is critical to avoid financial or legal risks. A final walkthrough before closing helps detect discrepancies between the property's stated condition and its actual state, reducing the likelihood of disputes. According to the National Association of Realtors (NAR), 7% of homebuyers reported unexpected issues during post-closing walkthroughs, often leading to negotiations or legal actions. Title insurance, which protects against ownership disputes or errors in public records, is mandatory in most states. The American Title Association (ATA) estimates that 1 in 3 title searches reveal issues, such as unrecorded liens or boundary disputes, which could cost buyers thousands if unresolved.

Mortgage verification ensures buyers understand their financial obligations. The Consumer Financial Protection Bureau (CFPB) found that 15% of mortgage holders misjudge their payment amounts, leading to delinquencies. A home inspection, typically costing $300–$500, can uncover costly problems like structural damage or mold. The American Society of Home Inspectors (ASHI) reports that 20% of inspections reveal severe issues requiring $5,000+ in repairs. Proactive steps like reviewing utility accounts prevent unexpected bills, as 12% of buyers fail to transfer services, according to the National Association of Home Builders (NAHB).

Regular maintenance, guided by the NAHB’s 2023 study, can save 5–10% annually on home upkeep costs. For example, roof repairs averaging $7,000 can prevent future damage. Home insurance, averaging $1,000 annually, covers disasters like hurricanes, which caused $26 billion in U.S. losses in 2022 (III). Combining verification, inspections, and maintenance minimizes risks, ensuring long-term value and financial stability.