Your Financial Pharmacist YFP Real Estate Investing 58: Deep Dive: Planning for Closing Day
May 21, 2022
32:13
Nate Hedrick, PharmD and David Bright, PharmD, MBA, BCACP, FAPhA, FCCP do another deep dive, this time covering how to navigate the major milestones in the real estate purchase process and planning for closing day.
Key Points From This Episode
- Discussion about some of the worries and issues surrounding closing a deal.
- The difference in approach when buying a property for yourself or as a realtor.
- Outline of today’s topic: things that need to happen right before closing day.
- Key milestones in the process of purchasing a property.
- The basics of a purchase agreement between the buyer and the seller.
- We learn about the inspection processes and the different types involved.
- Ways in which you can handle the results of the inspection process.
- Benefits when using a qualified inspector/contractor for the inspection process.
- Why the process of identifying the correct titleholder is so important to closing.
- Examples of some of the hidden costs when closing a purchase on a property.
- Differences in process when buying a property in different states.
- Two important questions should ask when closing a deal on a property.
- Tips on what to look for when taking-out insurance on your new property.
- Why you should consider using a lockbox for your new property.
Links Mentioned on Today’s Episode