PA live! (WBRE) — Thursday on PA live!, Chris and Rachel spoke with Bill Vinsko of Vinsko & Associates for this week’s PA Law.

This week’s topic is purchasing and refining a home or property.

The Federal Reserve has increased interest rates to close to 8%, which is higher than most people can remember. While this doesn’t directly affect interest rates, it means it will cost more to borrow from the bank.

However, there are not many properties for sale, which is keeping values high for home purchases.

Bill lists three things you should remember when it comes to purchasing or refining property:

  • Even if you’re paying cash, you should have title insurance and a title search.
  • Make sure you do timely inspections of your property if you have an agreement of sale.
  • Review your estimate of costs and payments before you sign.

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