As you browse the Prescott, AZ real estate market, looking at your home interior and exterior is your main goal. What buyers also need to do is look deeper. There may be secrets that take away from the home’s beauty. The thought of termites, mold, pending court cases or more than one owner of the home will make you think twice about purchasing it. Perform the real estate’s version of a home background check.
Your realtor will team up with a title company to perform a title search. This ensures that the seller has the right to sell you the property without any strings attached. Liens, claims, ownership transfers, wills, trusts, deeds and other public records are thoroughly examined. What buyers hope to hear is the title search came back clean or clear. Unfortunately, this is not the case for every house.
Unpaid taxes, court judgments, home projects and/or mortgage payments discovered. Other things like current rental arrangements, co-homeowners, bankruptcy, foreclosure, easements, encroachments and pending court proceedings are very likely. If the title doesn’t come back clean, it delays purchase. Oftentimes the seller can arrange to resolve this problem; in other situations, it’s impossible. You may have to find another place to stay if it can’t be resolved.
A realtor should mention this to you automatically. Home inspections (paid by you) are a worthy investment. Termites, mold, lead paint and asbestos are some of the things home inspectors discover. They also look for broken or faulty wiring, plumbing, water heater and other equipment. They dig deep to uncover things sellers often hide. This is where buyers get fussy. Those buyers want to hear nothing’s wrong. In reality that’s only possible if the home is built from the ground up. Instead, buyers need to hear wear and tear items and/or minimal problems. It is advised to attend the inspection, but it’s not necessary. The seller gets the results of the inspection and decides if the home needs further repairs. The buyer decides if the home is still worth pursuing after receiving the results.
While there are websites that will provide a background check for a fee, it’s nothing like a realtor’s background check. They will uncover those secrets and inform you about them so you can make a decision before you sign. If nothing is wrong, the home will be worry free and hassle free. Contact us for more information.