The purchase of a country house is a technically complex operation that can only be carried out by a very attentive buyer. The tricks of unscrupulous owners or the flaws of the house itself did not immediately turn from the secret to the obvious. Experts on the market of suburban homes “Metrium” have prepared an overview of the most common “evidence” that may indicate problems with buying a house.
Inner damages can also be very costly to repair if you are planning to buy a pre-owned house. You must hire a house inspector professional to check the condition of the house. You can use Home Inspection Bellevue WA for that.
Risks for the buyer of a country cottage can be divided into two groups: “paper” (related to the documentary side of the transaction), and “technical” (related to the state of the building and site). Let’s start with documentaries.
Proxy sales are widespread in the suburban housing market: the owners of expensive cottages are busy people. While this is a perfectly legal practice, it is risky not to see the living owner of the home being purchased. The power of attorney is the main “defendant” in many fraudulent scenarios. The real owner may not know about the deal, be incapacitated, or, sadly, completely absent from the mortal world.
Atrium experts recommend always checking the authenticity of the power of attorney. To do this, you need to contact a notary (of course, not the one who certified the power of attorney) and ask to verify the authenticity of the document against the internal database of such documents. In addition, you should try to establish contact with the owner of the house in any way.
In the suburban home market, we are almost always talking about multimillion-dollar transactions. The seller and the buyer seek to hedge their bets. The deposit – a certain payment by the buyer before signing the contract – is ok if it is not too large. If the seller demands to advance a large amount, then most likely he wants to hide with it, leaving the counterparty with a “pig in a poke” – a problem house or sold twice a week.
Experts do not recommend agreeing on deposits of more than 5% of the cost of home ownership. As a rule, a more modest amount is enough for the buyer to confirm the seriousness of their intentions.
House “with history”
When studying the history of the transfer of ownership of the purchased home, the buyer should be alerted by frequent transactions, especially in the last year or even months. A good house does not go from hand to hand – multiple changes of owners indicate the problem of the estate: this indicates either the need for serious investments (say, in repairs) or about legal troubles with the status of a property. Therefore, such households are often sold at a significant discount.
Heirs and equity holders
The owners of large residences walk widely through life, leaving behind a trail of wives and children, relatives, mistresses, who are happy to lay claim to hundreds and meters as soon as the owner dies. Sooner or later, the minor son from the fourth marriage decides to sue 1/35 of the “golden” land on Rublevka from the mother of the second wife, and then a “tornado” will form, drawing in more and more new relatives claiming a home.