The decision to buy a house is one of the biggest decisions you will ever make. Here are five key things to keep in mind:
1. What is the seller telling you about the house?
Sellers used to provide disclosure statements, telling buyers about the condition of the home and disclosing problems. These days, lawyers advise against this, because of the potential for lawsuits. Some sellers are doing home inspections before they list the property for sale and giving a copy of the report to any buyer.
This helps sellers because they can correct problems noted by the inspector and so they do not have to negotiate with the buyer later. Some sellers are also providing history reports, which can be obtained from homeverified.com or Iverify.com which indicate whether the home has been the subject of an insurance claim for water, fire, flood or sewage backup, and if the home was ever listed as a grow house or meth lab.
The more information a buyer has in advance, the more informed the purchase decision. Still, even with this information, you should do your own home inspection before committing to any purchase. More
There’s more to buying a resale home than just putting together an offer, reviewing a home inspection report and getting your financing approved. Be sure to hire an experienced realtor who knows the area to help you make the right decision.