Buying a new home? Here are 5 things to avoid.
Our law firm has been representing home buyers here in the Pacific Northwest for decades. We have been through several of Seattle’s building booms and busts, but no matter if it’s a buyer’s market or a seller’s market, it is incumbent on you as a homebuyer to be diligent throughout the process. Here are 5 key things that you should avoid during the process of buying a home:
DO NOT succumb to artificial pressure you feel from your realtor, the seller, or anyone else.
- The whole process of offer, counteroffer, and son on included arbitrary, but always very short deadlines by which each party must respond. This only exists to create an artificial sense of urgency so the realtors can close the deal.
DO NOT waive the pre-purchase home inspection.
- Waiving the pre-purchase home inspection sets you up for potential headaches. Only waive this if the seller has provided a very recent inspection report from a qualified building inspector.
DO NOT assume that your real estate agent is going to refer to the most qualified building inspector.
- Remember, your realtor’s primary interest is in closing the deal. They are not incentivized to find you an inspector who will take the time to locate every possible problem and concern about the house you’re hoping to buy.
DO NOT ignore serious issues pointed out by your own inspector.
- Ignoring major issues identified by your home inspector may leave you saddled with huge repair expenses once you own the home. You are better off knowing all the issues upfront and using the defects or deferred maintenance items to negotiate a better price – or, if the problems are bad enough and the seller won’t address them with repairs or a lower sale price, to justify walking away from the deal.
DO NOT sign a so-called “warranty”.
- Avoid signing any type of so-called “warranty”. These are typical on new homes sold by “spec” builders and are typically a general waiver of your rights against the seller.
What if you’ve already made some or all of these mistakes?
If you discover that your recently purchased home has serious problems that were never disclosed by the seller, are wondering whether you should be concerned about your findings of your pre-purchase home inspector, or if you are unsure whether the “Warranty” being offered to you by a builder-seller is a good thing or a bad thing, please feel free to contact us at 206.960.4603, or by email us email@example.com, so that we can discuss your concerns and see if we can help you.