Buying First — House

But an accepted offer is not a closed deal; it is simply the entry fee to the stressful period known as escrow.

Then, the escrow officer smiled and handed her a heavy metal ring holding two shiny brass keys. buying first house

This was the most nerve-wracking day. A professional inspector crawled through the attic and crawlspace, pointing out every flaw. Sarah learned that every house has issues. The key was distinguishing between cosmetic fixes and structural red flags. Luckily, the foundation was solid, though the electrical panel needed an upgrade. But an accepted offer is not a closed

The bank sent an independent appraiser to ensure the home was actually worth the price Sarah agreed to pay. If it appraised low, she would have to cover the difference in cash. She held her breath for a week until the appraisal came back right on the money. A professional inspector crawled through the attic and

After months of searching and three rejected offers, Sarah found it: a modest 1950s ranch. It had a sound roof, a functional layout, and a yard that needed work but had potential. Her fourth offer was accepted.

She had to calculate how her student loans and car payment weighed against her salary.