There can be hidden risks in purchasing a home. Most states require sellers provide potential buyers an accurate description of the property for sale. Each state varies regarding the details a seller must legally disclose to buyers. Still, enlightened buyers should take it upon themselves to to do their own due diligence before the inspection period ends after a purchase agreement is signed. Remember, it is easier to terminate a deal before the legal obligation to purchase begins.
There are many things to verify, such as:
B. Home Condition–Mechanical—Plumbing systems, Electrical Systems, HVAC, Sewer/or Septic System, Built-in Appliances and All Fixtures
C. Environmental Issues—Asbestos, Lead-Based Paint, Mold/Mildew, Radon
D. Other Conditions–Termites, Flood Zones, Utility Easements, Adjoining Roads(who maintains?), Shared Driveways, Walls or other Encroachments and/or Stigmas.
E. Off-Site Issues—Odor, Smoke, Noise & Hazards Affecting a Home–such as: highways, railroads, industrial sites, Superfund sites, toxic waste dumps
F. Legal/Financial Issues—Possible bankruptcy during sale process, Violation of Building Codes, Zoning, HOA, Tax Liens, Proposed Assessments or Zoning Changes, Mechanics Liens
G. Other Off-Site Issues—Neighborhood Noise, Barking Dogs, Traffic(street cut-through), Safety, Availability of or consequences from Public Parking(swim meets, social gatherings, etc., at a clubhouse or pool)
H. Insurance Issues—C.L.U.E Reports
I. Remember there are no property disclosures for distressed property sales, BUYER BEWARE! When is a Good Deal NOT A Good Deal? Hire a REALTOR- He can work for the buyer and usually the seller pays him.
Need to purchase a home and feel safe with your investment?
Call Earl Park @ 770377-5793 or email: EARL@EARLPARK.NET