REMEMBER THAT “BUYER BEWARE”
HELPS ALL PARTIES TO THE EDEN UTAH REAL ESTATE TRANSACTION!
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While you are eagerly anticipating your future real estate transaction in Eden, Utah, it is important to have a healthy sense of “Buyer Beware” as you Embark on your real estate purchase. While Eden, Utah is a wonderful place to buy real estate and settle into a home or commercial property, it is always advisable to remember the concept of “buyer beware” when you are looking at investing money in real estate of any type. Even though the property looks well-kept and maintained, it is totally within your rights as a buyer to insist on a thorough property inspection and to be sure that you make your contract subject to a successful inspection. It helps both sides if the “successful inspection” is clearly defined within the contract in order to have an acceptable standard to aim for as the inspection procedes.
QUANTIFY THE TERM “SUCCESSFUL INSPECTION” TO HAVE A STANDARD THAT EVERYONE UNDERSTANDS HOW TO MEET
Clarifying what you mean by a “successful inspection” can save everyone untold heartache in the long run. When firm guidelines are set in advance, then if those are not met, the parties have guidelines to govern their future behavior. Be sure to establish what is expected and a time frame within which compliance is due. Be sure to make performance of the real estate contract contingent on this if this is something you consider a deal breaker for the transaction on the Eden Ut property.
CLARIFY WHO WILL BEAR THE COST OF ANY ADVERSE FINDINGS WITH RESPECT TO THE PROPERTY CONDITION
Include this information in your initial contract wording if this is an important part of your expectations to having the contract completed or cancelled.
BE CERTAIN TO INCLUDE PROCURING A SUCESSFUL TITLE EXAMINATION WITH A TITLE CLEAR ENOUGH TO PERMIT THE ISSUANCE OF TITLE INSURANCE
This is an important part of any agreement to purchase real property. This agreement benefits both the property owner and buyer. It protects the sellers after the property is sold and out of their name against any glitch in the chain of title so severe that it affects ownership. It protects the buyers because it guarantees that the title is clear enough to insure their interest and that of their new lender. Simple examples of problems covered under this insurance are forgeries, improperly identified heirs from the past, an improperly worded legal property description which impacts current ownership, and legal fees arising from these unforeseeable occurances.
IF THERE ARE CONDITIONS ON THE PROPERTY WHICH RAISE RED FLAGS AS TO THE MARKETABILITY OF THE PROPERTY, IT IS BEST FOR EVERYONE TO INVESTIGATE THOSE MATTERS EVEN IF THE SUSPICION IS BASED ON A LITTLE DETAIL
Peculiar looking soil which could indicate improper dumping, funny stains on the ceiling which may signify an old leak, and vague boundary lines along the sides of the lot are causes for further investigation. When something seems out of the ordinary or too good to be true, that is the time to apply the brakes on the transfer and investigate further!
SOMETIMES, AN IFFY SITUATION CAN BE DIFFUSED BY THE PURCHASE OF A HOMEBUYERS WARRANTY BY THE SELLER OR AGENTS TO CLEAR UP ANY INSECURITY POSED BY THE INSPECTION
An example of this situation would be the discovery of something that causes unexpected concern. Pay attention to these “red flags,” they usually merit looking into before it is too late.
THE GOAL OF A SUCCESSFUL TRANSACTION IS A SMOOTH CLOSING AND TRANSFER OF TITLE AND OCCUPANCY OF YOUR NEW EDEN UTAH HOME; KEEPING “BUYER BEWARE” AS A FOREMOST PRINCIPLE THROUGHOUT THE TRANSACTION WILL SERVE THE INTERESTS OF ALL PARTIES IN THE END
Keeping your eyes open and checking everything out before all the papers are signed and the money has changed hands is the best rule to follow. All parties should go into the transaction with their thinking caps on and must realize that to ignore anything that is rearing its ugly head is not a good way to close a sale for either party.
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