Buying Brevard County Real Estate
When you look at a listing on a property for sale, and it says "Newer" what does that mean? Is 'Newer' 2 years, 3 years or could it be 10 years old?
When looking at houses, dates are important. Realtors like dates. Buyers like dates. Lenders and insurance companies like dates. Do sellers like dates, too? Some do. We like to know the date a house was built, the date the kitchen was remodeled, the age of the air conditioning system, the water heater, and the date the 'newer' pool pump was replaced. Insurance companies are pretty specific about the dates they need. They want to know how old the roof is, has the electrical system been upgraded, how about the plumbing and are there updated windows? What's the age of the 'newer' garage door? Providing the correct dates can provide substantial discounts, in some situations on a homeowner's insurance policy.
Sometimes these dates slip away from sellers.
In selling a house it's important that a seller have all of that information to pass along to a buyer. If items have recently been updated or replaced those are items that should be included in the notations of the property listing or on the seller's property disclosure. These dates often help a prospective buyer in making a decision on whether or not to proceded ahead on a house.
On traditional sales sellers fill out a property disclosure, noting any defects they are aware of. And they are asked about dates of when that newer roof was installed. Sometimes questions come up. With proper documentation and receipts there's no question as to the age of the roof, air conditioning system, appliances or hot water heater.
It's beneficial when owners gather all those important papers and keep them in a handy place to be able to pass along the information they have to new buyers. In an ideal scenario a seller can pass all of that information along to help seal the deal for the buyer. Unfortunately, that's in a perfect world.
I understand using the word "newer" on a property listing. But, 'newer' can be a relative term. I think that means in the last couple of years. Find out what newer means. I looked at a listing a while back that was advertised with a 'newer' air conditioning system. When I asked how old it was the agent had to get back to me, and finally told me it was 13 years old.
NOTE: On foreclosed properties, there are no warranties, no property disclosures and no documentation. The sellers that owned the property are gone. And, the banks selling the properties do not have any of these records.