Important points to consider before buying a property
A series of important information that the buyer should be aware of before buying a property so as not to lose.
Visit the neighborhood on foot
Before you buy a new property , you should carefully check out the neighborhood to which you plan to move. Walk the neighborhood. Visit at different times of day, and strike up conversations with neighbors.
Research online. A simple Google Maps search can help you see if there are schools, grocery stores, doctors, transit stops, and more near the property.
How to know that you’re getting a good neighborhood ?
Is quality healthcare easily accessible?
Is crime low ?
Is there a good supermarket close by?
How far is the nearest mall?
Are there plans to build a highway or airport runway at the end of the back yard?
Find the right real estate agent
A good real estate broker knows the whole neighborhood well and knows what a property should sell for
A good real estate broker is aware of many neighborhood and property problems. such as :
sewage backups, termites , Crimes and neighborhood security or vandalism.
Choose a property inspector carefully
Be sure to go property and check it carefully.
Questions to ask the seller.
such as :
if they have had basement flooding problems, or mould or roof leaks, even if the leaks have been repaired. Watch how they answer.
Most sellers will now refuse to sign property disclosure statements, but they are required to respond truthfully to these questions if you ask them directly.
If the seller refuses to answer or acts suspiciously, then you need to discuss this with your home inspector and your real estate agent.
Basement apartments must be legal
If the home contains a basement apartment and the income is important to you, Make sure the basement is licensed. You have to spend thousands of dollars on a complaint through the neighbors.
Be sure to check the insurance and Title insurance
Find an insurance agent right away and Understand the cost of insurance in any case. An insurance agent can check the history of claims in the neighbourhood and can let you know about claims for sewage back-ups or vandalism.
Title insurance can be arranged through your lawyer. You will be protected against unpaid taxes or water bills by the seller, as well as problems that are not known at closing.. However, it is a mistake to believe that title insurance will protect you against everything.