Information About Hartwell Real Estate
Hartwell Disclosure Rule
Tell All is definitely the rule for anyone who is selling Hartwell real estate in today’s market. Let the Buyer Beware can easily come back and bite you in a delicate spot—your pocketbook.
Today, those selling a home or any Hartwell are expected to disclose all known material defects that are not readily apparent to the buyer. A Material Defect is usually a physical condition that would affect a buyer’s decision to purchase the home or what price to pay for the home. A leaky roof is definitely a Material Defect. If a Hartwell seller tries to disguise the leak by painting the interior ceiling and walls without fixing the leak, the truth will come out the next time it rains. Chances are the first call the buyer makes will be to his attorney.
Hartwell Disclosure Rule
If you are contemplating the purchase of an existing home or any Hartwell, I strongly recommend that you utilize the services of a trusted home inspector. The final purchase of any home should be based on obtaining a favorable home inspection. Hartwell is no exception to this rule.
What if the home inspector discovers a problem? That happens and as long as it happens before the sale is final the seller can fix the problem or the buyer who agrees to take the property as is can negotiate the price. Any questions regarding Hartwell, just give me a call.
Guidelines for Buying Hartwell
Let’s say everything is a GO! You have found the perfect Hartwell home. You know you can afford it and it is actually priced below what you expected to pay. What a bargain! Yes there are bargains to be found in Hartwell. At this point it is fine to put in an offer on the property but only with a well-planned contingency. Of course, it the home is going to be financed, the lender will want a Home Inspection before agreeing to lend money on the property. However, you need to protect yourself by making an offer SUBJECT TO a clean bill of health from the Home Inspector of your choice. This kind of a contingency gives you an out if the inspector finds a problem with the roof, or foundation or other structural problem that was not apparent to the seller or to your agent. This does not mean you will not buy the house but you will have a good reason to renegotiate the price with the seller.
Hartwell Real Estate Title Insurance
Buyers in the Hartwell market can be tempted to save money by foregoing a title search but the risks are heavy because title problems are many and varied. Some typical problems that title searches have uncovered include a second mortgage on a home that does not appear to have been paid off. The sellers borrowed money years ago from a parent who insisted that a second mortgage be recorded. The loan was repaid but the title wasn’t cleared. Another typical Hartwell problem occurs when an owner had work done on the property but for one reason or another failed to pay the contractor in full. The contractor filed a mechanic’s lien on the property and it has never been removed. These are liens on the property and if you take title to a property without clearing these liens or encumbrances, you may be responsible them.
Building Hartwell Home Equity
As a Hartwell homeowner you have the right to pay more towards the principle loan amount each month. Let’s say your monthly payment is $700.00 a month and $100.00 a month is being applied to the principle. If you choose to pay $900.00 instead of $700.00, the $200.00 overage will be applied entirely to the principle. Thus, instead of gaining $1,200.00 a year in Hartwell home equity, you gain $3,600.00.
The only factor being considered here is Home Equity. In individual cases it may be wiser to invest than to pre-pay your home loan. It also may be wiser to pay off high-interest, non-deductible loans before considering your Hartwell home equity building options. Your financial advisor is the one to consult for these matters. If you would like up-to-the-minute information about Hartwell home appreciation values in your area, please call or E-mail me today.
Hartwell BARGAINS
A bargain exists in the mind of a buyer when entering into an agreement to exchange goods when the buyer thinks the price is favorable. Bargains can always be found in the Hartwell market if a buyer is patient and willing to wait for a truly motivated seller. In economic downturns many people believe that foreclosures and short sales are automatically bargains when, in fact, this may not be the case.
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