Buying Your Dream Home? Ask These Questions First.
Getting your dream home for the right price may be too good to be true. Before signing your name on the dotted line, there may be a few things you want to find out first. Sellers often times fail to disclose certain flaws with the house so here are five things you should double check on before closing on the deal on your dream home.
Check for leaks
Leaks are common problems that can be easily fixed, but it is just as common for sellers to put a quick fix with a plug. Most leaks occur in faucets, ceilings, and roofs. Being upfront about leaks can actually increase the value of the home as long as you are honest about the problem and that it is going to be fixed, especially if it isn’t an extensive problem.
Insect infestations
There is more than meets the eye at times. While the exterior may look in perfect condition, it is not guaranteed that termites aren’t wreaking havoc inside the walls. Whether or not the seller has to disclose a pest problem is different from state to state, so be sure to check the real-estate laws in your own state.
Integrity of the roof and foundation
A crack in the foundation, or a leaky roof, can cost tens of thousands of dollars to replace. Be sure to check the foundation and walls closely both inside and outside the home. Spending this extra time will be sure to save you thousands in the long run.
How old the appliances are
Often times sellers will try to skirt around the issue of how old the water heater and HVAC system are by disclosing very little information about them, and answering “Not sure” when asked. A home inspector can discover this information with no problem. A seller who does not know a lot of the details about their home are either indifferent to the process or are trying to hide known problems.
Important Dream Home Questions to Ask:
- Talk to the neighbors, and ask if they know why the current owners are moving. Also if they have seen any construction or repair vehicles around the home lately, and if there are any general construction issues with all the homes in the neighborhood.
- Get a copy of the Comprehensive Loss Underwriting Exchange (C.L.U.E.) Report from your insurance agent.
- If you are looking to make a quick offer as a buyer, it is possible for you to write a conditional statement in your initial offer. This conditional statement covers the fact that any additional questions you have must be answered before you close the deal.