What to Look for When Buying Pre-Owned Property

house for sale

A lot of great homes on the market are not necessarily brand new and built specifically for buyers looking. In 2019, over 5 million existing homes were sold to new homeowners, showing a steep increase in the market compared to a decade ago. Of course, even though there are agents who can help with the process, it’s best to know how you can check out a house and see if it fits the bill for you. That is especially crucial if you’re buying a property that has been owned and seen its share of wear and tear.

Make sure you check these out when you visit prospective homes:

  • Safety Checks and Certificates

It’s essential to find out if everything is still in working order and the place is safe to inhabit. It would be wise to ask for official papers and certificates that prove the condition of the home, like electrical installation condition reports, pest checks, foundation and appliance safety certifications, and the like. It would also be smart to check for any mold growths and leakage in pipes. Doing so protects you from being saddled with a house that carries unwanted surprises that could not only cost you more money but also pose a health hazard. If a seller has these items, it’s also a vote of confidence that they are thorough with how they are handling things and have taken care in regards to their property and its future occupants.

  • History of Changes and Repairs

landlord and tenant

Because you are not the first owner of this property, it may not be in the same condition that is was when initially built. That is not just because of the natural effects of time and age on the house. But it also because of possible changes that have been made by way of repairs or renovations. Financially and in terms of maintenance, it would be good to have a reference point for any history of changes before you make any choices. It could also give you a better grasp of the foundation (even the completed small remodeling) and see how things are or if they are up to code, especially since those are the types of concerns you will have if and when you become the owner.

  • Existing billing and mail

Although all the deed will transfer the house to you, you don’t want any unnecessary bills transferred too. If you have set your eye on a particular property, you’ll want to ensure that all of their mail and the addresses written in their bills and credit information have been rerouted adequately to their new address. Aside from the hassle of receiving the wrong or mixed mail, it can be troublesome if you end up being billed for any previously unpaid utilities like water, gas, sewage, and electricity. It can be even more costly if there are code violations and unpaid taxes. Find this out before closing the deal.

By making sure to check on these aspects, you are ensuring that the home you’re getting can indeed be a dream and not a hidden nightmare.

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