Congratulations on your potential home purchase. Here are a few things you should inquire about:
1. The seller should have disclosure forms (general, lead, mold) that will provide you information about any known existing problems with the home, the age of mechanicals and roof, etc. This is very important information to have and can affect the value of the home and what you might offer to pay for it.
2. Make sure the seller is not in a short sale situation. A short sale is when the seller owes more money than they are asking for the home. In a short sale situation, both the owner and the bank/lender will have to agree to accept your offer. If the seller does not want to disclose this information, you can research it through public records.
3. You need to discuss time frames for the move, contingencies in your offer such as an inspection and mortgage contingencies.
4. You need to analyze current comparable sold, active and expired homes in order to determine a fair offer for the home.
For more home buying articles and how-to's you can visit my website. If I can be of further help or you are interested in being represented and guided through the whole buying process from offer to closing, don't hesitate to contact me. In most cases, the seller with pay the buyer's agent commission and you will have the advantage of being represented.
HomeStyles Real Estate