Buying a home in Nebraska
In Nebraska, residential sale agreements are used to convey the terms of a buyer’s offer to purchase a home. In the document, the buyer provides the monetary amount they are offering, and the expiry date of the offer. Right up until the expiration date, the seller can accept the agreement on offer, or he or she may present a counteroffer to the buyer. As soon as both buyer and seller have signed the contract, it is marked as closed and the purchaser has a legal obligation to pay the seller. However, before the agreement becomes effective, in Nebraska the seller has to provide the buyer with a disclosure to relate any defects or problems they have knowledge of regarding the property. The disclosure requirements are:- Seller’s Property Condition Disclosure Statement (§ 76-2,120): Property buyers must be given a written statement detailing the condition of the property before the purchase agreement becomes legally effective
- Lead-Based Paint: If the property was built before 1978, the seller has to provide a buyer with a disclosure form which must detail the possibility of any lead-based paint being present
Refinancing a home in Nebraska
Of course, Nebraska has laws regulating mortgage lenders, including those offering refinances. But these regulations don’t appear to impose any unusual burdens. So Nebraskans shouldn’t have any special problems when they come to refinancing. Of course, mortgage lenders will want to be sure you’re a sound borrower. You’re almost certain to get a better deal if you can show you have:- A decent credit score
- Plenty of equity in your home*
- The ability to comfortably afford your new monthly payment