5 Mistakes Buyers Make
5 Mistakes Buyers Make
These are the most common mistakes buyers in the general Wilmington, Delaware and nearby PA real estate market:
1. Not asking their agent to read the Seller's Disclosure Form and comment on it.
Realtors many times ask the buyers to review disclosure forms themselves rather than reviewing the forms with them. They would rather the liability be on you for things missed! But we, as Realtors, see these forms every day and can add insight as to the meaning of confusing language. Remember if it is on the form and you don't question it or address it in a contract, that means you accept the disclosed defect!
2. Accepting a list of three home inspectors and choosing one.
There are HUGE differences between the quality and capability of different home inspectors. Ask your Realtor (and others) which one is the best for your situation and why.
3. Not getting a chimney inspection.
Only in the last few years have video inspections become available in our area. That means, more than likely, your new chimney has never had a thorough inspection and well over 50% of them really need some work - work that costs much more than an inspection. Be sure to get the chimney inspected so you can address any chimney problems.
4. Attending all the inspections except the termite.
Home inspections are three times as valuable when you are there to ask questions of the inspector. Many top inspectors only put half the information on the resulting report. Be prepared to take notes. Normally there will be some list of repairs that you will be asking the seller to address. Remember, you have the right to have any repairs inspected for quality, etc. and to have someone representing you there during the repair. Under no circumstances should you skip the final walk thru inspection. If the repair list is complicated or large, consider having your home inspector come back for the final walk thru inspection. After settlement everything is MUCH more difficult to address.
5. Expecting a perfect house.
There is no such thing as the perfect house. Insisting on perfection is unreasonable. Don't be afraid of addressing items yourself in the future, but be totally aware of what needs to be done. You can get contractors to estimate work that you are not doing before settlement, but now is the time to go in with your eyes open. Depending on how hard you have negotiated with the seller on price, you might want to loosen up and only ask a seller to address major defects (roof, plumbing, electrical, HVAC, etc.) and forget minor issues.
