BUYER BEWARE

The old term Caveat Emptor means “Buyer Beware.” Beware of what, you ask? Most buyers enter into contracts to purchase homes without doing their “due diligence” research beforehand. Performing a home inspection on the house is only scraping the tip of the iceberg. Wise brokers will advise their clients of the need to insert verbiage in the contract which allows the buyer time to perform their due diligence investigation as it relates to the property and or it’s surroundings. Here are a few examples of questions you should be getting answers to: 1.) Has the house ever had a fire? 2.) Were all of the necessary permits pulled when work was done on the house? 3.) How old is the septic system & have any repairs been done? 4.) Are there any registered sex offenders in the immediate area? 5.) Is there any protected wetlands or vegetation abutting the property? 6.) Are there any board of health violations on file? 7.) Is the property zoning in line with how you intend to use the property? 8.) Are there any buried underground oil tanks? 9.) Is there any crime in the neighborhood? 10.) Are there any pending or approved proposals for abutting parcels to be built on or developed? 11.) Are there any liens against the property which could either prevent or delay your purchase? 12.) Are there any Restrictive Covenants that dictate how you can use your property? 13.) Are there any easements, encroachments or right of ways? 14.) Any pending eminent domain matters? 15.) Is the homeowner in foreclosure? 16.) Is the house located in a flood zone? All of these questions can be answered by visiting the the City or Town Hall, fire department & police department.