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Real Estate Tips
First Time Buyers >The Perfect House

Home buyers must often deal with deferred maintenance or repairs. For example, you may have found a terrific house and like many competent home buyers, you included a structural inspection contingency in your purchase agreement. What happens when you find out that your "perfect" house needs some work? Do you ask the sellers to pay for the repairs? Before you answer "yes", there are some important considerations.

Some contracts require that all of the home's systems, such as plumbing, heating, electrical and central air conditioning, be in working order. In this case, the sellers may be obligated to repair any problems with these systems. Leaky roofs, damp basements, or other structural problems may not be covered, however. If you ask the sellers to make these types of repairs, you may void the contract by doing so. The sellers might prefer to negotiate the repairs to keep from losing the sale. If there are other buyers waiting in the wings with back-up contracts, you run the risk of losing the home.

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Real Estate Trivia
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What information does nearly every state in America require the seller of a home to reveal to the buyer?

A 
Most states require disclosure of any existing problems or conditions that could affect the value of the house.
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Jay Pitts, REALTOR®, real estate agent and broker for Louisville, St. Matthews and Middletown, Kentucky home listings, property and land for sale - NUMBER1EXPERT

Jay Pitts
RE/MAX Executive Group

101 N 7th St
Louisville, KY 40202
Office: 502-561-3481
Cell: 502-572-0186
Fax: 866-741-0673
JayPitts@NUMBER1EXPERT.com

The highest compliment I can receive is a referral from a client or friend. Business is great and growing steadily, but it is important for you to know that I am never too busy to help your family, friends, neighbors, or coworkers.

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