PROPERTY HISTORY
It is a good practice to know all that you can about the sales history of the property you have under consideration. Do not simply settle for the information contained in the customer copy of listings. Ask your agent for detailed information. Investigate how long the property has been on the market, whether it was previously listed, withdrawn, and/or relisted for a lower price. These questions can help you decide how much to offer. Public records are also essential. Research will disclose the name of the owner, original age of the home, mortgage history, parcel number, previous sales of the property, property deeds, and any judgments or liens filed against the seller. Information about how much the property taxes are, and whether they are paid or in arrears, will also be available in the records. You will also be able to see if there were permits obtained to make improvements on the home. These permits could complicate the sale of the property if liens were attached by workmen or improvements were not done to code. Embrace research because it reveals important information about the property in which you are interested and could save you money. You can get this information through your agent, since most agents subscribe to services that give them access to such data.
MAKING THE CHOICE
Once you have done all your homework, you need to decide whether to buy the house. It is important that you step back and evaluate all the information available to you from viewing the house, inspecting its condition, and obtaining public records.
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