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Survey surprises
The property neighbour may show the lot boundaries are different from the property plan, a neighbour's fence is over the line, or zoning regulations have been violated. Avoid the trap by asking to see the seller's survey made back when the seller bought the house, and go over any additions or variations with your real estate agent. Also, if necessary, have your new survey done early.
Last minute defects
During the final walk-through, prior to closing, some serious defects may become apparent that were not noticed before. Avoid surprises by doing a careful inspection of the house, then consider asking your home inspector to check the areas of concern. Have the inspector report to you any items needing attention, the cost of fixing them, or the repercussions if they are left as is. Inform your lawyer immediately. Sometimes depending on the situation he/she will retain money in trust until the problem is solved by the seller.
Prepaid shockers
Some items- such as real estate taxes and homeowners association dues- get pro-rated on closing, while others- including maintenance fees for condos- have to be paid ahead a few months. Avoid inaccuracies by asking for these figures a day or two in advance, and check the charges. Remember, if the closing date changes, so do some of these prepaid costs.
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Copyright ©2009 Peter Kunz. All rights reserved. |
Royal LePage Partners Realty is an independently owned and operated brokerage. |
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