You’re ready to make an offer on a home. You’ve got the seller’s disclosure of material (physical and environmental) defects, but is that all the information you need to move forward? Before you sign your purchase offer, do a little quick research.
Get a loss history report. The Insurance Information Institute advises homebuyers to obtain a loss history report from the seller. This LexisNexis free service tracks hazard insurance claims. You’ll learn when the roof was replaced from hail damage but also if there have been any water leaks or other damage. During the home inspection phase, you can see how the damage was corrected.
Check Housefax.com. Your first Property History Report is free and includes property details and building permits, among other information, so you can learn whether that room addition was done by professionals.
Visit DiedinHouse.com. For $11.99, you’ll receive an instant report that reveals if there’ve been any deaths in the home, because in many states, anything that isn’t a material fact doesn’t need to be disclosed to you. You’ll also learn if there’s been any fire damage, and whether the property was ever used as a meth lab. It also alerts you to nearby sex offenders.
Ask for an updated CMA. I can provide you with an up-to-the-minute comparable market analysis (CMA) report. You’ll soon know if there’s been a change in the marketplace, such as new listings or solds that can help you decide how much money to offer.