Special offer

So you are moving to Tennessee and need a few pointers.........

By
Real Estate Agent with RE/MAX Checkmate 260532

 

Tennessee is a fabulous place to live and a great place to buy real estate.

One bonus of living in Tennessee is that we do not have a State income tax. This is appealing to many residents who like to hold onto their hard earned money.

Whether you are a buyer or seller of real estate in Tennessee, it is good to know about our State contracts.  They are created by the Tennessee Association of Realtors legal team and are examined and re-vamped yearly.  The Realtors across the State all use the same form and fill in the blanks the attorneys leave us.  In my opinion, the contracts are very fair and neither favors the buyer or seller.  With that said, I would also like to make a comment about all the contingencies in the contracts that do favor the buyer and seller.  The buyer can get out of the contract for numerous reasons that include, but not limited to, financing, inspections, appraisal, and surveys.  However, there is a disclaimer that gives the seller a comfort level and that is our declaimer paperwork.  This is a 3 page document that lists issues the buyer may foresee and puts the burden on the buyer to take due diligence. It implies that the seller is not making any representations.  Such items include: water source, electrical systems, surveys, all inspections, title work, etc.  The best advice I can give a buyer, use an experienced Realtor, inspector and hire an attorney for your closing and title work.

Tennessee has rocky terrain and has had a lot of Radon gas issues in these areas.  It is important to get a Radon test when purchasing a home in Tennessee. Most inspectors are capable of preforming this simple test, and if the house has high levels of Radon gas there is a solution.  A mitigation system can be installed.  The price of this system can range from $1,000 - $2,000 (approximately).  The price is calculated based on square footage and whether there is a basement or crawl space in the house.  It is customary for all inspection results to be re-negotiated between buyer and seller after inspection report is performed.

Termite letters are also important to get when buying a home in Tennessee.  The wood destroying insect clause is part of our state contract, and states that the buyer performs the test when having their home inspection.  However, if there is an issue with wood destroying insects, it is customary for the seller to pay for the treatment.

Posted by

Cindy Edwards- text or call me: 423-677-6677 

OR: Subscribe to my blog via email!

Subscribe to Tri Cities Tennessee by Email

My name is Cindy Edwards and I am a Realtor in Tri-Cities Tennessee. We have a very successful Team concept that has something for everyone.  If you are looking to buy or sell in Johnson City, Bristol or Kingsport Tennessee, you have made the right stop here! Please visit our website that is about the Cindy Edwardssurrounding area of the Tri-Cities and helps you realize what a fantastic place this area is to live.  Tri-Cities is close to some very popular areas and boasts Mountains and lakes!

We have a full-time photographer, handyman, web marketer, and client care manager on our team.  As well as 3 buyers agents and I myself specialize in listing and selling YOUR property.  Please visit us on the web and let us make your next home buying or selling experience a positive one, you'll remember for years! Or goal is to have you come back to us  

  You Tube       Facebook       Word Press      Twitter
Tri Cities Tennessee

 

//

Comments (2)

Andrew Mooers | 207.532.6573
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

Great local post on the state, communities you serve. Need to know about the area when you are an outside buyer before zeroing in on the specific properties to kick some listing tires.

Apr 11, 2011 10:45 AM
Cindy Edwards
RE/MAX Checkmate - Johnson City, TN
CRS, GRI, PMN - Northeast Tennessee 423-677-6677

Thanks Andy-you are the pro at this type of blog.

Apr 11, 2011 02:31 PM