There are few bigger decisions or significant purchases than buying your next home. This can be an exciting time, but it is also a time to exercise caution.
The legal process of buying a home can take time and as with any purchase, it does not come without risks. It is in your interest to be as careful as possible before committing to any agreement. This could save you money as well as protect you from legal disputes further down the line.
Realizing that there are defects with your new home after purchase can be devastating. So, be on the watch for these signs that a house just isn’t for you.
A bad track record
Before you make a purchase, you need to know about the history of the item you plan to acquire. This is true for almost any purchase, but it is pertinent in the case of your potential new home. Is the building very old? Have numerous repairs been carried out over the years? While age and repairs are not necessarily a reason to put you off of a property, you need to make sure that repairs were carried out appropriately by reputable firms. You also want to ensure that work has been carried out to completion and that no corners have been cut.
Even if you want a “fixer-upper”, it needs to be built on sound fundamentals. Any potential issues with the foundations of the house or the ground that it is built on should be a warning sign that the deal may not be for you. You may also want to check that the electrical system is working properly, as poor wiring not only makes life less comfortable, it can place you at risk of injury or death.
Carrying out thorough checks on a property before the purchase can save you a lot of trouble. If you are currently entwined in a real estate dispute, make sure you are aware of your legal rights.