As a buyer, how much detail can I get on a property before making an offer?

It’s up to the property owner as to what specifics they disclose prior to an offer. This holds especially true for information that includes private data, such finances, other offers, etc. Certain questions, both the listing broker and owner have a duty in answering honestly and to the best of their knowledge. For example questions whether a building meets code requirements, past illegal use, in a flight path, etc. should be disclosed without hesitation.

A buyer can uncover some facts by accessing publicly-available information. A visit to the local municipal office could unearth some general information related to property taxes, registered liens and potential work orders. Keep in mind this information will vary from city to city. A simple Internet search may also reveal some information about the property.

Once these avenues for information have been investigated a buyer may consider putting in a conditional offer to the seller. Conditions could include property inspections, review of any documentation and due diligence a buyer may see fit. Moving forward with a deal would only be contingent on these conditions being met to the satisfaction of the buyer.

This approach allows a buyer to move forward with complete confidence and minimal risk. The deal can also be structured that if conditions aren’t met to the satisfaction of the buyer, any deposit money would be returned in full and the agreement of purchase cancelled.

An experienced buyer representative is a trained professional, sensitive to the needs and requirements of the buyer and a definite asset to a buyer in any real estate transaction.

Before you make your next home purchase consider hiring an ABR (Accredited Buyer Representative).

Steven Porter ABR CNE SRES
Broker
RE/ MAX Aboutowne Realty Corp.,
www.PorterRealEstateSystem.com