Question: I'm in the process of purchasing a home offered for sale by
owner. What questions should I ask the seller that will provide me with
pertinent information about the property? Also, what questions should I ask
that will give me information that most sellers don't want buyers to know?
Answer: This isn't going to work. There are a universe of potential
questions and the odds are overwhelming that you will miss one or more -- and
maybe pay thousands of dollars in excess costs as a result.
For instance, is the sale subject to a home inspection? Must the
inspection be "satisfactory" to you? If the inspection is not
satisfactory to you will you get your deposit back if the owner does not make
repairs? Must the repairs be satisfactory to you? Can the seller limit repair
obligations to a given dollar amount? Are you getting good, marketable and
insurable title? How do you know?
Please, get a Realtor before you sign anything.
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