What are the legal requirements for purchasing a home?

In California, the legal requirements for purchasing a home generally include conducting a title search, getting a home inspection, obtaining a loan commitment, and signing a purchase and sale agreement. A title search is the process of checking the background of a property to make sure there are no liens or other claims against it. During the title search, a title company or lawyer will check public records to confirm the seller owns the property. A home inspection is an inspection of the physical condition of the home. A professional home inspector can point out existing or potential issues that may need to be addressed before you buy the home. Most buyers finance the purchase of their home with a loan, so obtaining a loan commitment is important. A loan commitment is like a pre-approval letter from a lender and outlines the terms of the loan you will use to buy the home. In order to obtain a loan commitment, you’ll need to submit recent pay stubs and tax returns. Lastly, before the purchase is finalized, you’ll need to sign a purchase and sale agreement with the seller. This legally binding document outlines the terms of the purchase, such as the price, payment terms, and other conditions. The agreement will also provide details on the process of closing the sale.

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What are the legal requirements for purchasing a home?

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