Cover ALL the Bases When Buying Your New Home
As you prepare to purchase your new home, it is important to make sure you are getting what you actually sign up for. Sellers often times try to hide any problems with the house in order to get it sold. Before signing your name on the line, here are four things to research.
- Leaky faucets, roofs, and ceilings
It may seem obvious to check for leaks in these parts of the potential new home but often times sellers try to hide these flaws by using a temporary plug to stop the leak. It is more often than not to the seller’s benefit to let the buyer know of the leaks. Leaks are common and easy to fix problems, and can be taken care of before signing any paper work. If sellers hide the small problems, you are going to have a difficult time trusting them on larger issues in the home.
- Termites, ants, bees – oh my!
Looks can be deceiving, and some of the biggest problems are ones you can’t see. Not every state requires a seller to inform of an insect problem in the house. So while the walls may look solid, termites and ants could be making colonies and eating away the wood
3. Having a solid roof and foundation
Fixing a roof or faulty foundation for a new home can cost you tens of thousands of dollars. Check for any cracks in the walls or leaks in the roof to avoid these hefty costs.
4. Old operating systems
Another important aspect to look into in your potential new home is the age of the water heater and HVAC system. These can be costly to replace, and sellers may try to downplay the age of them by giving vague answers or little information on the property disclosure. An inspection by a professional can help determine this information.
Make sure you are getting all the important questions answered. Here are few suggestions to help you get started:
- Homeowners may not be willing to share everything, so don’t hesitate to talk to the neighbors. Some things you can inquire about are if they know why the current owners are selling, if they have seen any maintenance vehicles at the house, or even if there are common problems with all the homes in the neighborhood.
- Talk to your homeowner’s insurance agent and get a copy of the C.L.U.E. Report (Comprehensive Loss Underwriting Exchange).
- It is also possible to put a conditional statement into an initial offer if you are looking for a quick buy. This statement covers all the questions that you may have, and must be answered at a later date before the negotiation is complete.