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Real estate purchases: get as much information as you can before committing

Buying a home is a big decision, whether it’s your first time or fifteenth time. Each buyer has their own process for approaching home-buying, both on an emotional and a practical level. There are certain things that should always happen, though. Among them are thoroughly inspecting all prospective purchases for defects and necessary repairs.

As a recent Washington Post column points out, it is important for real estate buyers to obtain as much information about the property as possible prior to purchase. The more information you have, the better able you are to make a fully informed decision about the purchase and to prepare financially for the costs that will go into the home, whether to make it livable or to make it a dream home. 

While it isn’t possible to completely prevent all risk of being blindsided by problems with a real estate purchase, the more information the buyer has, the greater the chance there is to minimize problems. This is why it is important for a home buyer to obtain as much information as possible from the real estate agent handling the listing, the owner, neighbors, and anybody who can offer information about the property. This includes, especially, working with a professional home inspector who can look at the entire property and determine its condition, whether it is up to local housing codes, and provide professional judgment about what needs to be repaired, how soon repairs must be done, and what costs may be involved in doing so.

In future posts, we’ll continue looking at this topic, and what recourse a home-buyer may have when he or she discovers major defects after purchasing a property. 

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