Surveys are sometimes required. Some states require a mortgage survey if the home buyer is using a mortgage loan to purchase a property. This guarantees the property is “as is” and should be without any encroachments. An example of an encroachment might be a neighbor whose garage overlaps the boundary of your property, or a fence you inadvertently erected on your neighbor’s land. All improvements also will be noted on this survey. Many states also require that the boundary of the land be surveyed. Make sure you check with a professional to find out exactly what your specific laws require. Some states demand disclosure statements. It isn’t uncommon for states to mandate that a seller provide potential buyers with certain disclosures about the property being sold. Natural hazards, pest control, and lead paint are just a few samples of common disclosures. An attorney or a qualified real estate agent, such as myself, can help you determine specifically what is needed. A pre-inspection report is recommended. Usually, sellers aren’t required to have a pre-inspection performed, but it’s a good idea. A mortgage lender will probably require certain inspections before offering the buyer money to purchase your property. If some part of your home doesn’t pass inspection, you’ll be in a world of complicated trouble. If you pony up the cash to get a pre-inspection done, you’ll have every opportunity to make repairs yourself, before the future mortgage company finds out about the problems. You could also choose to make allowances in your asking price for the repair of any faults discovered after the home is out of your hands. Another route you could take is selling the home “as is,” but that’s a whole other ballgame. It really can’t be emphasized enough that you need to check with a professional before assuming anything. The rules for these sorts of circumstances vary too widely from location to location for you to leave anything to chance. The last thing you want is to have legal repercussions from this sale hounding you years from now.
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