Buyer History: Does Your Home Have a Rap Sheet?

You wouldn’t buy a car before looking at the vehicle history report, would you? Well, the same should go for buying a new home.

Buyer History: Does Your Home Have a Rap Sheet?

You wouldn’t buy a car before looking at the vehicle history report, would you? Well, the same should go for buying a new home.

RECEP KARACA
RECEP KARACA
01 May 2017 Monday 19:23
3578 Reads
Buyer History: Does Your Home Have a Rap Sheet?

You wouldn’t buy a car before looking at the vehicle history report, would you? Well, the same should go for buying a new home. The importance of looking at a home’s history report prior to purchase is often overlooked, but it’s crucial for your emotional and financial well-being. Nobody wants to live in a house that has a sinister track record, and looking into the history reports can save you from running into unwanted issues in the future.

Otherwise known as the CLUE report, the housing history insight gives you the details of any major events that may have occurred in the home, ranging from the previous structural damages, the passing of the previous owneror if the former owner was involved in criminal activities in the home. Below are just a few reasons why looking into the home’s track record is essential in determining if you want to live at the property.

Previous Damages

This is one of the most important tell-tale signs that should be considered when looking into the housing history of the property you are looking to buy. Physical damages can include anything from pest infestations, flood or fire damage and electrical shorts.

Construction and Previous Contractors

If any renovation or construction has been done on the home, looking into the home’s history will let you know if it was done properly. By looking into whether the changes were made in accordance to local codes, the CLUE report will provide you valuable insight about the construction or renovation of your prospective home and will ensure that all safety requirements were met.

It should also be noted that homeowner’s insurance will fluctuate depending on if the construction was done properly. After learning about the building history of your home, be sure to compare homeowner’s insurance quoteswith sites like CoverHound to see the extent that your rates may differ after the purchase of the home.  

Criminal Activity

Nobody wants to live in a home that is tied to criminal convictions. Looking into the CLUE report can provide information about the previous owner and whether or not criminal activity occurred in the house. Aside from outlining any dark secrets about former owners, the presence of crime in the household may also make you reconsider the location that you’re looking to buy in.

Seller’s Disclosure May Not Provide All the Details

Despite the fact that sellers are required to disclose any past or present issues regarding the home when putting it on the market, these disclosures do not always include everything. The reality is that the way disclosure rules are structured gives homesellers an advantage in what is relayed in the document. Unless you attain a full history report, these secrets can remain unturned. Even after viewing the seller disclosure statement, do your own research into the home to make sure that the document didn’t leave out any important details.

Buying a home is a dream that many people strive for. Getting to a place in your career and personal life where you can make a property investment is something that should bring pride and joy. However, with the process entailing so many different factors, it’s important not to get caught up in the excitement. One necessary step all homebuyers should take prior to purchasing is looking into a home’s track record, and ensuring nothing detrimental can come back to haunt them. This way, your investment is secure and you can rest easy knowing that any issues about the house have already been accounted for.

Updated: 20.05.2017 09:47
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