Why You Should Get Out Of Your Offer by real estate agent
In talking with my real estate expert, Craig Summers, I asked her was there ever a time that I should back out of an offer on a house. Her answers were interesting, so that is the topic of our discussion today.
People put in a lot of time looking for what they consider to be the perfect house. It is really discouraging when you think that you have found the perfect house, but it turns out to have some issues that in the long run would be better not to get involved in. Lets look at what these issues might be.
Issue #1 Liens and Judgements
Does the house have any liens or judgements attached to it? If it does, you must be careful that you do not end up having to pay any of these bills. If you are not careful this could happen to you. You may want to consider a different house rather than continuing to pursue this purchase.
Issue #2 A poor or failed house inspection
Now of course there is no such thing as a failed house inspection, but you can consider it a failed house inspection if you find that there are foundation or structural issues. Again this is a legitimate reason to back out of an offer as this could not only be dangerous to your family but could become an expensive venture if you continue in the purchase of a home with these issues.
Issue #3 Neighborhood issues
When you are looking for a house to live in, you should also be careful to investigate the neighborhood. At first glance, it might look wonderful and be the place that you want to live. You must make sure that you take a second look. Call down to the local zoning office and make sure that there are no areas in the neighborhood that are going to undergoing any zoning changes. Check with the transportation department and make sure that there are no new highways being planned to come through or near where you are planning on moving to. These are legitimate reasons to back out of your offer. You want to make sure that the value of your home in that neighborhood will increase and not decrease.
There is a lot of free information available to you about buying, selling or investing in real estate. For complete information about the real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to everything real estate at www.pauldingandpolk.com. Please feel free to contact me with any of your real estate or mortgage related questions and I would be more than glad to answer your questions. Call me on my cell at 404 374 1620 or email me at firstname.lastname@example.org
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