Disclosures, Condition, & Home Inspections

Disclosures

Sellers have more knowledge about the home since they lived in them for years. So there may be some things you want to find out about the home. You should require a seller’s disclosures as part of your offer.

Essentially, you want the seller to disclose any poor conditions that may have an influence on your decision to purchase. This included problems with the house, such as whether the home is in a flood zone, residential, commercial or industrial zoning, or any other kind of unknown condition not readily observable by a buyer.

The agent representing you should require individuals selling their own home to provide you with a disclosure. Often banks selling foreclosed property do not provide these disclosures because they are usually unknowledgeable about the personality of the home. Obtaining disclosures should always be a part of your offer in due diligence.

State of Property

The last thing you want when you take over possession of the new home is find it is in total disrepair. Some requirements you might want to include in your offer are that the roof does not leak, the appliances work, the plumbing does not leak, that there are no broken or cracked windows, the yard has been kept up, and any debris has been cleared away, and the neighbors do not use their back yards as dumps.

Inspection of Home

In addition to an appraisal and perhaps a termite inspection, you should also have a professional home inspector go through the home. Even though you may have inspected the home yourself, you may not find things a professional will discover. Even if they are not things the seller is expected to repair you will at least have knowledge of any potential problems needing mending later.

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