--ActiveRain - February 2008 - Paul Howard
I think of myself as a buyer’s “due diligence” resource. Due Diligence: It is more than “to be diligent”. When one enters into a contract they should not do so blindly. Yet, they generally don’t have the background to personally make a complete or sufficient evaluation of all the things they should consider before making a commitment. Can they fill that gap by hiring an attorney? Maybe, partly. An attorney will give legal advice. The attorney may also give business advice that is not within the scope of his/her area of expertise. Example: Generally an attorney does not have the knowledge or background to help you determine if a purchase is a ‘good deal’ or even fair. They can tell you the repercussions of the various segments of a contract. Your due diligence goes far beyond that. When you look at a house you should attempt to determine if there have been additions (or a finished basement) that were done without permits. Your attorney can tell you the implications of that. It does matter. You agent should be able to help you determine such things. You agent can help you determine other things you should know.
What did comparable property sell for in the last 6 months?
Can you get a better deal on financing?
How long has the property been listed?
What inspections should you have done?
When did the house last sell?
Does the condo development you like qualify for your FHA financing?
Does the stream your property back up to in the Spring become a swamp in the summer?
Who owns and maintains the small lake your house on the water overlooks?
Every purchase is an adventure. My job is barely started by the time you place an offer. The path from there could be a stroll down a quiet path. Or, I may need to lead you through a minefield of the undisclosed and unexpected. I expect the unexpected.
If you are in the market for a home in the Cherry Hill, NJ area, make sure you hire an agent who will work for you on your side of the transaction. Paul Howard is the only Exclusive Buyer Agent having an office in South Jersey. Paul, owner of NJHomeBuyer.com Realty in Cherry Hill, is a member of the highly selective National Association of Exclusive Buyer Agents, representing buyers ONLY, 100% of the time. If you are thinking about buying a home in the Cherry Hill, New Jersey area in the near future, call Paul at (856) 488-8444 or send an email for free information.
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