Condition and price are determined in a combination of ways. When we tour the home to evaluate if it is a good fit for your needs, we can determine the condition of the house based on how it looks and feels. In order to step up the evaluation of price and condition, we will do the following:

1)      I will run market analysis of the home comparing it to other similar houses that have sold in the last three to six months. Comparing the house to other homes gives us a ball park price range to determine if we think the house is priced fairly.

2)    We will schedule a home inspection as defined in the offer. I always recommend that buyers pay for a home inspection in order to have a professionally trained inspector evaluate the condition of the house. While they can not see in between the walls or under carpets, they can evaluate the major structures of the house: foundation, roof, plumbing, electrical and HVAC systems. A good home inspector will also educate you concerning maintenance and repair issues that may be relevant to that house. 

3)     The lender will schedule for an appraisal on the house. This is paid for by you and is required by the lender to verify that the condition of the house warrants the money borrowed against it. When we write an offer we will make sure the offer stipulates that the offer is contingent upon the purchase price equaling or exceeding the appraised value. That way, if the appraised value is low, you are not legally bound to purchase the house.

4)    As long as the Sellers have lived in the house sometime over the past three years, they are required to fill out a Property Condition Disclosure. This disclosure is intended for the Seller to warrant what they know to be true about the house’s condition.