Before You Buy - Concerns About the Property
Property DisclosuresYou have already toured the home, looked at the ceiling, walls and floors, turned on the faucets and flipped the light switches but you have never lived there. The seller may have lived there for many years and have a ton of knowledge about the home. For this reason, in most areas, the law requires the seller to provide potential buyers certain disclosures about the home and sometimes even the area around the home. Since you don’t want to be blindsided down the road with a big expensive repair you want the seller to disclose any adverse conditions in the home. This would also include any problems with the foundation of the house, whether the property is in a flood zone, a noise zone, near a landfill or any other kind of hazardous area. If you have a professional DFW Realtor representing you, in the course of their daily business they will get the necessary forms for you. Take note that banks selling are exempt from the disclosures. It is true “Buyers Beware”.Property ConditionThe last thing you want when you move into your new home is to find it a total mess. Make it clear in your offer that you require certain minimum standards. Some of the requirements you should include in your offer are that the appliances work, the roof does not leak, the plumbing does not leak, there are no broken or cracked windows, the yard has been kept up, and any trash has been cleared away. There are many DFW homes for sale so find one that is in good condition and meets all your needs.Home InspectionsAlong with the required appraisal and the pest inspection always get a professional home inspector to go through the house to find any potential problems. Even if they are not things the seller is usually expected to repair, at least you will have knowledge of any potential problems. The seller will want this inspection performed quickly, so that you can move forward with the purchase. Once you receive the home inspection report, you will want to allow yourself a few days to review the report. If you are concerned about any items on the report you can negotiate with the sellers on which repairs will be performed and who will pay for those repairs. If no agreement is made, you can cancel the purchase without penalty, assuming you have included a home inspection contingency in your offer. Always get a Home Inspection!Walk-Through InspectionRight before closing on your DFW Real Estate, you should revisit the property to make sure it is in the condition you have set in your offer. Be sure to inspect that any required seller repairs have been performed made and are made in a professional manner. If you were smart enough to use a DFW Realtor in your transaction make sure they accompany you on this final walk through inspection.
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