Imagine you’ve gotten the keys to your new house and you’ve moved in. You’re on a homebuyer’s high — until you discover a leaking roof or a snake infestation (true story). What do you do?
Here are some ways to avoid a costly post-closing catastrophe.
1. Look at the listing language. Some properties are listed for sale “as is,” but you should clarify if that means the seller is absolutely unwilling to address major safety issues that might come up in an inspection that would make it difficult for them to sell the house to any buyer, says Liane Jameson, a real estate broker in St. Petersburg, Fla. If a seller either can’t afford or doesn’t want to fork out any money for repairs, be prepared to move on, she says.continue reading »