EASY STEPS
Congratulations! You have just completed a very important step in the purchasing and/or selling process. This report will help you make a more informed decision. You may be also saying to yourself "Great, I've got this BuildFax report, now what?" Here are a few suggestions to get you started.
For most of us, buying a home is the single largest investment we will ever make. When everything goes right it can be a great experience but, if problems arise, it can be devastating.
When shopping for a new home, consumers generally investigate each property they are considering, but many people fail to check the remodeling and construction permit and inspection history and this can be a big mistake. In order to save themselves time and money, homeowners and contractors sometimes do remodeling or other construction work on a house without getting the proper permits and inspections. Others are simply unaware that the work they are doing impacts the safety of the structure and, therefore, must be permitted and inspected. This non-permitted, uninspected work may be unsafe and can result in several big problems for the homeowner (including you, if you buy the property) down the road.
The Federal Housing Finance Board recently reported that, in October 2004, the average purchase price of a single-family home exceeded $264,000. For under $10, a BuildFax Property History Report can help you avoid buying a money pit that may end up needing thousands of dollars worth of unexpected structural repairs.
When you tour a home, work that was completed without permits and inspections probably won't be obvious. A BuildFax Property History Report can reveal hidden issues that you can use to negotiate a lower price - or you may decide to avoid the property altogether.
When you try to purchase a property that includes unpermitted remodeling or other construction work, you may face an unexpectedly low property appraisal value, lenders who are reluctant to issue a mortgage for the property, insurance representatives who are unwilling or even unable to insure the structure, and other costly delays that can even put a stop to the closing. Information provided in a BuildFax Property History Report can help you avoid these kinds of surprises that are likely to be trouble.
Even the most exhaustive home inspection won't uncover everything and professional home inspectors frequently advise homebuyers to look up a property's remodeling and construction history before buying. Getting a BuildFax Property History Report in addition to a Certified Home Inspection is a great way to cover all your bases.
If non-permitted, uninspected work exists in the home you buy, you could face unexpected complications and expenses when you later decide to remodel. For instance, you may have to have the original work inspected and brought up to code before you can start your intended project. This can be both time consuming and costly. Get a BuildFax Property History Report so that someone else's shortcut doesn't become your roadblock.
The permit and inspection process is designed to ensure that remodeling and other construction work meets the recognized safety and durability specifications required by your local building codes. Work done without the proper permits and inspections may be unsafe, and buying a property with this kind of "skeleton in the closet" puts your family members at risk. Don't just assume that your new home will be safe- check it out with a BuildFax Property History Report.
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