Investigate a Home Before you Buy

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Industry Observer License #035626

When people are looking to buy a house in an unfamiliar area, they may go into the ordeal completely trusting the real estate agent listing the property to give them all the information, including the downfalls of the property. However, be realistic for a moment, the listing real estate agent's job is to sell the home, the listing agent works for the seller. But, still knowing this many people go ahead and trust the listing agent only to discover the problems later. Best course is always to have your own buyers agent in a real estate transaction to assist you in investigating the property.

For example, in many rural areas that are near creeks and rivers, the area becomes flooded when there is an extensive amount of rain or when the rainfall is quick. It may be the one reason that the sellers listed the home on the market. However, if a buyer were to ask them their reason for moving, they are probably going to give the excuse of needing a bigger or smaller home, or perhaps they are moving closer to work. So the buyer purchases the home, the first rain comes and their basement is completely flooded, as is the first floor of the home. At this point, there is really nothing that the buyer can do to the seller since they are not legally obligated to tell you everything that is wrong with the home. In a great scenario, a neighbor may warn that the house gets flooded when it rains, however, the chances of that happening are far and few between. Thus, why you need to research a home before you buy.

You do not want to sink what may be your entire life savings into a home that is going to cost you money each time you turn around. With the above example, the new owners will have to pay for their basement to be pumped, as well as their first floor to be redone. However, if the buyers believe that their house insurance will cover this, they better think again. Many companies will not give flood insurance to those homes that are at a higher percentage to flood because it would be money out of their pocket since the chance of it occurring is definite.

In addition, to the things of a home that could cost you money in the long run. You should also check out the history of the home to make sure that there has been nothing major wrong with the home in the past, or nothing extreme happened at the location, for those that are a bit superstitious. Think of purchasing a home in this manner, you would not purchase a car without knowing if it has been taken care of, therefore you should not purchase a home without knowing the history.

 

 

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It’s A Good Life!

Bruce Swedal 

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