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Before
you look at another property...there are 20 things you should know
about purchasing....
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1.
What is the neighbourhood (and the neighbours) like....are there
certain features that would affect the value of this property in
the future?
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| 2. What are the realty taxes on the property? |
| 3. What are the utility costs...especially hydro if the home is electrically heated? |
| 4. What home repairs have been made in the past 2 years? |
| 5. How far do I have to travel for hospitals, schools, and shopping? |
| 6. What major repair expenses do I have to look forward to within the next 2 years? |
| 7. What is the traffic flow in front or or near the property...main roads, bus routes or railway tracks? |
| 8. Are there any utility easements or encroachments over the property? |
| 9. Is there a fairly recent survey that shows all of the buildings and additions on the property? |
| 10.Has the property had a Home Inspection done when the present owners bought that you could check to see what minor and major problems there were? Ask the vendor for a list of those problems that were fixed. |
| 11. Has the homeowner signed a Disclosure document? |
| 12. Is there a septic system? If yes, how old is it and is there a Septic Use Permit available? |
| 13. If the water supply is from a well, is there a potable water certificate and what is the flow rate? |
| 14. How do you select the best lender to work with? |
| 15. What are the other comparable properties in the area selling for? You don't want to overpay or get carried away by snazzy finishing touches in a property which may be priced higher than others in the same area. |
| 16. How flexible are vendors usually on their asking price? |
| 17. How is my financing approval determined? Is there any beneficial existing financing on the property that I can assume? |
| 18. What does the lakefront look like when it is not covered with snow? Are there any problems with drainage or runoff after a heavy rain or in the spring? |
| 19. Does the basement show any signs of moisture...can it be fixed simply by cleaning/repairing the eavestrough or is it a more serious problem? |
| 20. What can be included in the sale? Are there any exclusions? |
Julie
Gray | Waterfront
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Residential | Commercial
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