Warning: Don’t fall in love with every house you tour. Any potential homebuyer needs to realize that sensible decisions can be hard to make when emotions are involved. Purchasing a home is a huge investment, so it has to be done carefully and logically. Don’t let your rose-colored glasses block out the warning signs of a troublesome property.
While shopping, everyone should be considering their budget and be watchful for red flags that could signal future problems. There are a number of ways potential buyers can protect themselves by identifying issues before signing a contract.
Home Inspection
Hire a reputable company to perform a very detailed home inspection. This should include water testing, an assessment of the electrical, HVAC, and plumbing systems, and making certain the home is stable and safe. The company will offer a complete report that states what was inspected and its condition. This report not only will alert the buyer to problems the owner neglected to mention, it will also give new owners a legal claim against the inspection service if problems arise in areas they deemed safe.
Google It. Seriously.
Research the address of the home or the neighborhood and you could reveal events that may have occurred that the real estate agent or the homeowner is required to disclose. This includes any past use of the home for drug operations or other criminal activity and murders or suicides that may have happened in the house.
One quick Google search is easy, painless and will help you rest easier knowing you have all the facts about a property.
Title Search
Never purchase a home without a title search having been performed. This is necessary in order to avoid homes that may have tax liens on them, identify a right of way or easement on the land or determine if there are any questions about the legitimacy of the title. Problems could include an ex-spouse who still retains partial ownership or inherited properties that may actually belong to more than one family member.
Survey
Surveying services use public information to determine where property boundaries are located. They will mark these lines and provide documentation. This is important for two reasons. It proves the lot is the shape and size the agent or the owner claimed and it provides legal evidence in case a boundary dispute arises with a neighbor in the future.
While none of these suggestions will 100 percent guarantee that every house will be the bargain that every homeowner wants it to be, they do offer security and legal protection. Working with a real estate agent is another great way to alert yourself of red flags and warning signs. An experienced First Team agent is the best accessory a buyer can have! Call or email and we’ll set you up with an experienced agent in your area.
This article was written by Dixie Somers, a freelance writer who loves to write for real estate, women’s interests, and home décor. She lives in Arizona with her husband and three beautiful daughters. Informational Credit: Silver Law Group
