What To Look For In Your Property Disclosure

When you’re buying a home, the seller should put together a property disclosure for you.  While it’s not necessary in every state, most will to try to cover themselves in case of a lawsuit.  That’s why it’s really important to look over your property disclosures for any discrepancies, and make sure that you know what the previous homeowners are leaving you with.

What To Look For

Cross Check the disclosure form with the property records from the county.  This should help you when you look for work that’s been done that may not have been cleared by the county, and doesn’t have as high a bar for the level of completion.  Basically, you can find out if they did some amateur work, and have the inspector check it over.

Also look for mentions of pets, or insect problems.  If you’ve had termites, you have structural problems.  If ants have been in, they’ll try again.  If you see ghosts, well, maybe don’t buy this house.

All joking aside, the disclosure is hugely important to the home’s value.  It says what’s wrong, what went wrong and was repaired and what is STILL wrong.  That last one is just as important.  If you hire an inspector worth his salt, you’ll find most of these issues right away.  If not, the disclosure will help out.

On top of all of this, the disclosure should also list out neighborhood nuisances, traffic problems, and property line disputes.  You can really get a good picture of what’s going on.

If you’re ready to take rising home rates and low interest rates and use them to your advantage, call us in St. Louis at (314) 781-9700, Chicago at (773) 770-4727, Indianapolis at (317) 550-1515 or Nashville at (615) 810-8555. You can always apply online at www.thehomeloanexpert.com, and we’re also open on Saturdays to better serve you. We work hard to make it easy on you.  Nobody gets lower rates on better loans than The Home Loan Expert, Ryan Kelley, why go anywhere else?

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