When you’re buying a home for sale in Lakewood or Long Beach, you’ll get a property disclosure from the seller. It’s essential that you read it carefully - and here’s why.
What is a Property Disclosure Statement?
No matter how good a house looks, there can always be problems lurking beneath the surface. When a seller knows about those problems, he or she is required to disclose them to you with a property disclosure statement. In a nutshell, a property disclosure statement outlines any flaws that the seller and his or her real estate agent is aware of, provided that those flaws could negatively affect the home’s value.
You’re not going to see dings in the paint listed on a property disclosure form - they’re for bigger problems.
Flaws that sellers have to disclose on a property disclosure statement include:
Windows that don’t close
Doors that stick
Leaky roof issues
Problems with appliances
Problems with home systems, such as the HVAC or electrical system
Renovations that were completed without permits
Environmental hazards in the area, like floods or wildfires
Why You Should Read Property Disclosures Thoroughly
Everything listed in a property disclosure statement can affect the home’s value, and you need to think about the future. You could overlook a big issue that could end up costing you in the long run, too.
Sit down with your Realtor(R) and read everything together. You’re looking for any of the issues mentioned above. If you see something not listed here, ask your agent about it - he or she will explain or ask the listing agent to explain it.
Are You Buying a Home in Lakewood or Long Beach?
If you’re buying a home in Lakewood or Long Beach, we can help. Call us at 562-882-1581. Tell us what you want from your next home and we’ll start searching for it right away.
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