Learning About Real Estate Listings and Agent Services

Negotiation And Inspection Recommendations To Help You When Buying An Older Home

by Elaine Ryan

When you want a home with historic charm and features that have their own character, you should look no further than buying a home built a century or two ago. Older homes have details that newer homes do not, but you need to make sure you buy a home that does not have issues and make sure your purchase offer provides protection to you as the buyer, so you don't end up with a home needing thousands of dollars in repairs. Here are some recommendations to help you make a smart and informed decision when buying an older or historic home.

Hire Professional Inspections

Once you are under contract to purchase a historic or older home, have the property inspected with any necessary professional inspections. For example, you may decide to have a professional radon inspection completed, which checks for this harmful gas that can be present in certain types of soil and rock. If you don't check for this, the property and any existing harmful gas could harm the health of you and your family.

In an older home, the plumbing or basement can pose a potential for mold and mildew issues. A specific inspection to check for mold and mildew will give you the peace of mind to move forward in the home's purchase. You may also want to have the home inspected for asbestos and lead paint, especially if you have young children in your family. You will want to discover any such issues so they can be properly remedied to eliminate any exposure to your family. Talk to your real estate agent about recommended professional inspectors to help you during the buying process.

Utilize Your Real Estate Agent

Your real estate agent is an expert you will need to help you buy your dream home without putting yourself at risk of acquiring a problem property or losing money on a bad decision. Your agent can help you make informed decisions and complete your offer contract to protect your interests in the transaction.

When you make an offer on a home, it is important your real estate agent helps you to write the contract, making your offer subject to any inspections you choose to have completed on the property. Doing so allows you the chance to make sure the property does not have any hidden problems. And if you find any problems or concerns during your inspections, with the help of your real estate agent, you can renegotiate the purchase contract to consider these issues, or back out of the deal and get any earnest money back that you put down on the property. Your real estate agent will know how to add this stipulation into the contract to protect you from becoming "stuck" in an agreement to buy the home or from forfeiting your earnest money to get out of the deal.