Many of you may be veterans to home ownership. Others, perhaps not. But let us mention three simple items that may be overlooked when shopping for a home, or even when you consider to sell one.
First, where does your water come from? Does the line from the main traverse your property? In some cases, the line may pass over or along someone else’s property. If it does, is there an easement? What is the status of the easement? If a repair is required, is it cumbersome to access the water line?
Second, is there peeling paint? If the home was built prior to 1978, there may be concerns with regard to lead paint. This isn’t just a health concern. It may impact a transaction, depending upon the appraisal and the lender’s standards. Delays can sometimes be costly. So can repairs. A smooth transaction is important to reduce cost, so taking care of possible lead paint contamination is important for both the buyer and the seller.
Third, if the home is in a CPR, does it share a cesspool or septic with a common CPR neighbor? If so, as an example, you may not be able to get a permit to add a room to your home. Furthermore, if there are violations with your common CPR neighbor’s property, it may need to be corrected before you can pull a permit for your development on your parcel. Understand the CPR arrangements and circumstances when buying a home in a CPR.