Posted tagged ‘contingencies’

Buying a home – pricing, negotiations, and disclosures

January 16, 2014

Finding a bargain homeIf you are in the market for purchasing a home, do you know the difference between the home’s list price, sales price and appraised value?

If not, click here to check out this resource page for home buyers on our Ideal Real Estate Group website.

Another area home buyers wonder about is how to find bargain homes, how to be successful at purchasing a home below market value, and whether or not to put in a low-ball offer. Click here (the same page is linked above) to learn about five ways you can find and buy a bargain property, and find advice on submitting a low-ball offer.

Also found on the page linked above is another hot-topic you need to know about when purchasing a new home – contingencies. Make sure you are familiar with various contingencies that can be put in an offer to purchase a home.

Along the same topic, be sure you know what the seller’s responsibilities are on disclosures. Laws vary state to state, so it is always good to know your rights. Sellers should disclose everything that affects the life and budget of the new homeowner, which might include:

  • homeowners association dues
  • whether or not work done on the house meets local building codes and permits requirements
  • the presence of any neighborhood nuisances or noises which a prospective buyer might not notice, such as a dog that barks every night or poor TV reception
  • any death within three years on the property
  • any restrictions on the use of the property, such as zoning ordinances or association rules

To learn more, including more on negotiations tips, click here and visit Ideal Real Estate Group’s resource page to be informed and prepared for the road ahead as you consider purchasing a new home. We’re here to help you every step of the way!

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