9 Things Buyers Should Know About When Buying A House

By
Home Builder with Long Island Cash Home Buyer

9 things buyers should know about

9 Things Buyers Should Know About When Buying A House 

WHAT ABOUT: 

TAXES...The tax information on the listing is often not accurate.  It is given to the agent by the seller and then processed by several people before being printed. It is therefore advisable that the buyer or their attorney verify the taxes before the signing of the contract.

SEWERS... It is important that the attorney request that the sellers present the buyers with a certificate showing that the sewers are connected. Often a house is purchased and later the buyer finds out that the sewers were not connected. This mistake is easily avoided and should be part of the contract. Learn what folks have to say about septic tanks vs sewers.                                

LOT SIZE...The lot size on the listing form may not be accurate.  A survey provided by the sellers or ordered by the attorney will give an exact lot description.

SCHOOL DISTRICTS... Questions about school districts are subjective and should be answered by the proper authorities.  School reports are published and in the public libraries.  At WWW.WITTNEY.COM you will find a link to the State Education Department. Before buying a house, a buyer may want to visit the school or schools in the district, meet the principle, the teachers, and talk to some of the parents and even the students.

TERMITES... Lending institutions will not give a loan on a property with termite infestation.  After the contract the buyer’s attorney will order a termite inspection.  Termites are common on Long Island and easily controlled.  The seller most often takes care of any active infestation and is according to the terms of the contract responsible for the repair of any structural damage.

ENGINEERS... It is not necessary for a house inspector to be an engineer.  A structural engineer will be the person most qualified to perform an inspection.  If an engineer is not available then a company that offers inspection guarantees, should be considered.  People sometimes ask if they need an inspection.  Inspections are always recommended by RE/MAX Wittney Estates.  We do not recommend inspections be done by people that are not highly qualified and will not give guarantees.  Often these people make recommendations based on erroneous information thus stopping the buyer from buying a home that would have been perfect for them.  Buying a home can be a very frightening experience.  A good home inspection report done by a highly qualified person makes the buying process a lot less intimidating.

LAWYERS... We recommend that the buyer select an attorney before they make an  offer to purchase.  A seller receiving an offer from a buyer who has an attorney will feel that the buyer is motivated to buy and not just looking.  Shopping for an attorney before finding a home they wish to buy can be done with leisure and will permit the buyer to be more informed about the lawyers qualifications.  Contact us and we will be happy to provide a list of lawyers that specilize in real estate transactions.

MORTGAGESWe at RE/MAX Wittney Estates always advise the buyer to get all the mortgage information they can before looking for a house.  We provide buyers with a free no obligation, consultation with a well-known bank.  Our loan officers offer one stop shopping and the buyer the opportunity to gather the most information in the least amount of time.  They also do pre-approvals and instant credit checks.  Having a credit check done before buying gives the buyer the opportunity to clear up any errors that may stop them from getting a mortgage or may greatly slow down the buying process.  

PRE-APPROVAL Before an offer is accepted by a seller they will want to see a written Pre-Approval for the buyer.  Learn the difference in a pre-approval and a pre-qualification.  

Wittney Estates was opened in 1984 and has since helped thousands of Long Island home buyers make their home buying experience a pleasant one.  We offer free home buying consultations and are more than happy to answer any and all of your "What About" questions. Please feel free to contact us and we will arrange to meet with you at your convience.  We welcome you to come in and see how the realization of our dream can make your dream come true!!

 

 

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Topic:
Home Buying
Location:
New York
Groups:
Investing in Real Estate
Posts to Localism
Tags:
mortgages
taxes
home buying
termites
home inspections
lawyers
sewers

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Ambassador
2,708,167
Liz and Bill Spear
RE/MAX Elite 513.520.5305 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Beth, Real estate purchases are slightly different in NY than in Ohio, but for the most part our buyers need to investigate the same areas of concern as your buyers.  Nice list to provide guidance to your NY home buyers to be!

Dec 29, 2013 10:18 PM #1
Rainmaker
1,312,264
Wayne and Jean Marie Zuhl
Samsel & Associates - Clark, NJ
The Last Names You'll Ever Need in Real Estate

Good morning Beth - Pretty comprehensive list of things buyers need to know. I've never encountered an unconnected sewer, probably a function of where we work. 

Dec 29, 2013 10:28 PM #2
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Florida Tolbert Team Keller Williams Advantage
Keller Williams Advantage III Realty in Lake Nona - Orlando, FL
Keller Williams Land Division Specialist

I personally would move number 9 to number 1 as you are getting in my car until the banker tells me you are able to purchase.

Dec 30, 2013 01:57 PM #3
Ambassador
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Noah Seidenberg
Coldwell Banker - Evanston, IL
Chicagoland and Suburbs (800) 858-7917

Richard & Beth great advice for any buyer. We as Realtors should make this a priority to explain, especially to first time buyers.

Happy New Year to you.

Dec 30, 2013 10:56 PM #4
Rainmaker
5,423,677
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

This is very good advice for prospective home buyers. Obtaining a pre-approval letter from their mortgage lender should be at the top of the list of things to do.

Dec 30, 2013 11:01 PM #5
Rainmaker
974,759
Beth and Richard Witt
Long Island Cash Home Buyer - Huntington, NY
Long Island Cash Home Buyer 516-330-6940

Thanks you all for your comments... I agree #9 should be #1... maybe I'll write another post on that... Happy New Year everyone...

Dec 31, 2013 12:25 AM #6
Rainmaker
4,432,217
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Good information for home buyers.Anyone looking to buy a home in your area should call you to be their agent.

Jan 01, 2014 09:32 PM #7
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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Great advice for buyers, Rich & Beth!  Most of our homes are connected to city sewer so, item #2 is not something that we have to deal with often.  We should be presenting this information to our buyers though - another benefit of having an agent to represent YOU!  

Jan 02, 2014 10:36 AM #8
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Rainmaker
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Beth and Richard Witt

Long Island Cash Home Buyer 516-330-6940
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