THE HONEST BROKER: BUYER DUE DILIGENCE
BY: DIANE LOTT, BROKER PARADISE FOUND REALTY, INC.
Performing an appropriate amount of research is necessary when buying a property. A key aspect of realtor’s job is to ascertain and provide as much public information as possible regarding the individual property, as well the surrounding area for their clients. Evaluating a neighborhood or potential changes that are in the pipeline for a neighborhood may not be evident unless extra due diligence is performed. Sometimes the client can and should do a little “sleuthing” on their own. What do I mean?
Along with checking out the inside of a home, it is imperative to check out the neighborhood and community. The buyer needs to make a visit or two to the area that he is interested in at different times of the day and/or night to see the activity level and if there were anything that would deter from buying there. For example, having a school nearby may be what a family might have on their “must have” list. However, if you do not have school age children, the noise or traffic patterns may possibly be an annoyance or hindrance to entering or exiting the community. This may not be known by viewing a home one time but may be revealed upon speaking with a potential close neighbor.
It would also be beneficial to know what they like, and potentially dislike, about living in the neighborhood. Possibly question how safe and secure they feel living there, and/or, going to their local businesses and restaurants.
There are a few things that only a neighbor can tell you are; if there is flooding in the area after a hard rain, how good the internet or cable reception is in the area (this might be very important if you plan on doing business from home), are there frequent power outages. Are there any detrimental infrastructure changes coming to the neighborhood, airport, train, highway, etc. You get the point….living in the flight pattern of a nearby airport may not be what you had in mind a serene backyard experience. There are pros and cons for increased growth. Knowing all the facts surrounding a possible purchase will make for a well-informed decision.
Diane Lott, Broker
Owner: Paradise Found Realty
Paradise Found Realty, Inc. of Palm City
Your Concierge Real Estate Company…we come to you.
Call to schedule a visit today: 954-294-5060
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