What are all stpes to buying, rehabing and rent in Tacoma WA

[Pradeep Tiwari]

Finally I am pulling the trigger and have a JV with a member and a home under contract in Tacoma-WA, As I want to understand the process and also avoid silly mistakes. I`ve got lot of questions as

1. I got Inspection report - What all section in the report I should be reviewing in more details and when not to buy a house?

2. Title Company document - they gave some document, not sure which all section to look in detail.

3. ALTA COMMITMENT FOR TITLE INSURANCE - has following (below)  statement.. What does this mean? I do not understand much but do not want to create any trouble for my wife if I did some mistake and want to make sure I am not signing any document that states otherwise.

Title is to vest in <MyName> and will be subject to: 

a. Matters which may be disclosed by a search of the records against the name of the spouse or domestic partner of <MyName>, if married or a member of a registered domestic partnership. 

b. If the proposed insured is a married person or member of a registered domestic partnership acquiring title as his/her separate estate, the Company will require a Deed be executed by the spouse or registered domestic partner of the proposed insured to establish separate property. A deed from the spouse or registered domestic partner will not eliminate the requirement that both spouses or registered domestic partners execute any new monetary encumbrances to comply with the automatic homestead provisions of RCW 6.13.060 if both spouses or registered domestic partners intend to reside on the Land

Any other help/suggestion/Guidance - I would love if some one can walk me through this process - that will be a great help ! 

@Rudy Manna

@Brandon Turner @Ryland Taniguchi  @Tarl Yarber

thanks 

Pradeep

[Ruth Bayang]

Are you buying this house from a wholesaler? Or something you found through your own marketing?
Inspection report: did you order this? Or the seller? If you ordered it, have the inspector tell you his/her main concerns. If seller-ordered, look at the big ticket items like roof, plumbing, electrical, HVAC.

Title commitment for insurance 

a. it means they will give you title unless they find something that concerns them when they search your name and your wife's name.
b. you don't need to worry about this if you and your wife are buying this house together - meaning both your names are on title