Making Informed Purchases

Posted by on May 14, 2015 in Large Purchases | 0 comments

Say that you, after years of working very hard, are now able to afford a car. Not just any old car, you don’t want one that breaks down after making one turn, right? Buying a cheap car only to find out that the repairs are going to cost more than what you thought you were buying it for. Some sellers might make it look like the best deal of your life, only to have some secrets lurking underneath. When making large purchases like this, it is then of the utmost importance that you are well informed of the property that you are buying.

You don’t want all that hard earned money to go to waste or end up shelling out more than you had initially thought you would have to. And there is almost no other property purchase that is quite as crucial as that of buying a house.

It is then the legal obligation of a seller to provide the buyer with the natural hazard disclosure (NHD) report of the house in question. These documents can range from $50 to around $250, depending on the agent and the quality and the warranty that comes with it. These reports then tell the buyer of the natural hazards to which the house can be susceptible to, such as if the surrounding neighborhood is prone to fire, flooding, or earthquakes.

These are quite basic facts, however, and easily taken from the internet. There, too, are dangers that may rest within the walls of the house you wish to purchase – and if these secrets are potentially hazardous to the potential clients then the buyer must be aware of these too. For example, if there are hazardous toxins that are present within the house, this could be grounds for there to be a need for a decontamination process for the house before it can be deemed livable.

Leave a Reply

Your email address will not be published. Required fields are marked *