When it comes to buying a house, the contract seems simple enough. It basically says that the house will be bought by certain terms, how much the seller will receive and who is paying for what.
Well, it is very important to have the electrical wiring checked to avoid leakage and faulty wiring hanging everywhere. At the same time, make sure that there are no broken pipes for the water system to avoid leakage and water loss. There should also be adequate lighting and emergency stuffs in case of unexpected situations.
Flame Retardants in your Furniture- A lot of furniture made by large, commercial manufacturers can contain flame retardants known as PBDEs. Yes, they can slow the progress of a house fire (god forbid), but they’ve also been linked to memory and attention defects. The main culprits are usually mattresses, couches, lounge chairs, and pillows. You may want to invest in PBDE-free options.
This process is usually conducted before a potential buyer makes a purchase offer. You of course don’t want to buy a home that has a faulty foundation. Generally, sellers are not usually requires to make some necessary repairs or renovation if the problems are discovered during a home inspection. But if the buyer demands for a repair to the seller, aside from the initial deal, the seller often agrees to make some adjustments or repair.
If the house you are thinking about buying needs a new roof, and the sellers won’t agree to pay for it or help out with the cost, move on. Depending on the size of the home, the part of the country you live in and what type of materials you want – a new roof can run you big bucks. We had to have a new roof installed on our previous home. It was a small ranch home with a two car garage and the cost of the roof was $10,000, for regular shingles, nothing fancy. If you are buying your first home, your in-between home or your last home, can you afford that much, or more, on top of the cost of buying the home? You cannot ignore a bad roof. The first big rainstorm could be devastating and wind up costing you more than just a new roof. A definite deal breaker!
This is one that my husband and I experienced personally several years ago. Our agent took us to see a home with lake access. The view was fantastic, the property was very nice, the location was perfect and the house was large. The first sign of trouble was when we discovered the kitchen door locked and the front door was hanging off its hinges. Our realtor called the listing agent who came over to let us in.
The second caution with as-is homes is that they usually require a lot of work to be done. This problem is also partly because the seller just wants to get rid of the home and doesn’t want to bother with making repairs or updating parts of the home. After all, making these repairs can be expensive and time consuming. It’s understandable why a seller would simply want to sell and not mess with these potential headaches. There’s a reason that these homes are sometimes synonymous with the term “handyman special” – they need a whole lot of work!
As stated at the beginning, there is quite a bit of information in regards to selling real estate. Hopefully you will find these tips beneficial. You should now find yourself ahead of the game if you are working to become an expert, or just trying to get a bit of background information.