Friday, March 03, 2006

Questions Buyers Should Find Answers To (Before Buying!)

Take this checklist along when you visit a home and talk to the listing agent. Make note of your own observations, watch for defects, and ask about anything you may not see on your own.
  • What is the visible condition of the property? Poor exterior condition may spell problems inside.
  • Does the house require major repairs or replacements? Major repairs, such as a new roof, can be costly. Consider these costs if you decide to make an offer.
  • How old are the mechanical systems? Consider the cost of replacing older systems if you decide to make an offer.
  • Has the house been well maintained? Ask if the sellers have kept any maintenance records.
  • Where is the house located on the block? Corner lots can be spacious, but exposed to more traffic and noise. Interior lots can be quieter but too close to neighbors.
  • How is the house sited on the lot? Be sure the area around the house is graded properly to provide good drainage.
  • Are there noteworthy architectural features? Front porches, gables or other details add value to the property.
  • Are there noteworthy landscaping features? Established trees, shrubbery and perennials add value to the property.
  • What is the condition of the houses on either side and across the street? If neighboring properties are too run-down, they may affect your resale value.
  • What is the surrounding neighborhood like? Look for evidence of a sense of identity, and pride of ownership in the other homes.
  • How close is it to shopping and schools? Nearby services can also add value.
  • Are there community amenities nearby? Parks or recreation centers can add value to the property.
  • How long has the house been on the market? A long time on the market may indicate problems with the house or neighborhood that you need to know.
  • Why does the seller want to sell? If there's a problem with the house or the neighborhood, assess the situation carefully.

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