Do Your Due Diligence

Real Estate Agent with Keller Williams Northeast Realty

Do Your Due Diligence - Buyer Tips

So you've seen a thousand homes and got your offer accepted, Congratulations! Sometimes that‘s the hardest part of Home Buying. However, you still have some careful steps to protect your interests.

In Arizona Real Estate, we have a standard 10 day "Inspection Period".  Some states call this a Due Diligence period and that is exactly what it is. Time to do your due diligence!

Use your agent as a resource!! This is your opportunity to find out everything possible about your new home. A good Realtor® will have many resources available for you. However you, the homeowner, are ultimately responsible for finding out information that is important to you. Your agent should give you a Buyer Advisory. This will have websites and phone numbers for items that concern you, and are relative to the property.

Talk to the neighbors!! You will rub shoulders with these folks, so make a good first impression. They know the good, bad, and ugly about their neighborhood.  Generally, they will tell you much more than you want to know. Remember this is gossip so take it with a grain of salt, but do talk to them!

Get a Professional Home Inspection! Even if you are the handiest of handymen have someone else do your inspection. You probably already love the house. So you may be inclined to overlook a few items. An objective professional inspector will give you the straight skinny about the home, warts and all. You will understand exactly what repairs may be needed, and you will have an accurate to-do list for future maintenance. It's worth it!

Visit the local school! If you have kids, and even if you don't, the local school is a good place for information. Visit in person if possible. Sometimes the closest school isn't necessarily the one your kids will attend.

Call around! We understand you are busy with your loan application, but schedule some time to sit down and make some phone calls or visit the websites listed on your Buyer Advisory. Find out if there are any sex offenders in the area, airport noise, or planned road expansions. You'll feel better about your purchase and be a more informed buyer so you can talk with the next new neighbors!

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Tom Bailey
Margaret Rudd & Associates Inc. - Oak Island, NC

Great post . Excellent advice for all home buyers.

Feb 17, 2011 04:31 AM #1
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