Research and Investigation
Buying Boston Area Real Estate
The 10 day home inspection window is the time to do additional research and investigation on the property so you can still use the inspection clause to withdraw, if needed. This is where your Buyer Agent really shines.
Due Diligence is a primary duty owed to you, and will require homework at the town hall and registry of deeds. You or your agent will need to know how to read and interpret the Field Card. Are you dealing with the actual owner? Are there future development plans that will help or hurt you? How about environmental issues? Are there any encroachments, easements, or setback issues? Were permits pulled for any work done? Is it public or private sewer? What about the water? Are there any current or planned betterment issues? How about covenants or restrictions?
What questions should you ask the seller? Can you get information from the neighbors? Are there stigmas of any kind? Are there high voltage lines? What about crime in the area? Did you check for noise pollution? Have you visited at night? Have you talked with the neighbors? Where are the level three sex offenders? Be thorough because this is your discovery period and you are quickly approaching the signing of a Purchase and Sale Agreement which binds you to the transaction much more strongly than before.
If things are good, you can tell your lender to order the appraisal. If there are unresolved issues or concerns, ask for an extension for the time and date to sign the Purchase and Sale. Your Buyer’s Choice Agent will help you stay on top of these issues. next topic »
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