In this nervous market it is more important than ever to identify and solve problems in advance for a successful closing Surprises that come up during inspections can be expensive and cause delays. Buyers and sellers should anticipate inspection issues even before entering into a listing or purchase agreement. Common Problem Areas to Consider: Where does the water go? Look at the roof. Are the shingles curling, is the flashing rusted. Check gutters and downspouts. Is all the water moving away from buildings and concrete? Does landscaping interfere with drainage? In an older property check the sewer line even if it appears to be working. Roots in older neighborhoods run deep. Home Owners Association? The contract requires standard documents and minutes. Ask for more. Be sure to get meeting minutes for two years. Get a copy of Rules and Regulations and Design Guidelines. Talk to Board members. Get copies of the newsletters. Find out what is really going on. It is important to confirm your final choice by making several visits to your favorite properties. Talk with neighbors, go back without your agent at different times of the day and walk around. Get a Copy of the Improvement Location Certificate (ILC) to see if improvements are within the boundaries and setbacks. The City will give you one for free if the owner does not have it. See if there are changes to the property since the original was issued. On older properties have a new one prepared ($200-300). Have your property inspector check the heat exchanger in the furnace or get a separate inspection from an HVAC technician. Sellers; make records for the above available to put buyers’ minds at ease before they look. You will have an easier transaction and may get a better price too. These are some of the more common trouble spots. There are many details in a transaction that can get you off track why not take care of the ones you can control. |