09 AM | 18 Jul

Due Diligence: Know the Risks of that House Purchase

Couple Receiving Keys to their New HomeOnce you have approved the real estate purchase contract, you have two weeks to cancel or push through with the sale. This period is not just for you to sit around and think about how you will live your life in the new house, should you continue with the purchase. It’s also a time for you to inspect the property for any hidden signs of damage that the seller needs to address or reimburse you for.

To make sure your new house will be ready and in the best condition, check the following:

Radon Levels

A simple test can be conducted to see if the house has safe levels of radon, a chemical that is responsible for most lung cancer cases involving those who do not smoke. You will only need to contact a radon testing company situated locally in Salt Lake City such as the Aerolite Group to get a report on how safe your house is from this chemical. You might also want to have the property checked for meth and other dangerous substances, especially if the neighborhood has presented with chemical-related problems in the past.

Crime Statistics

Though you cannot be responsible for cleaning up the community of crimes, the seller should be upfront about the kind of neighborhood in the area. If you have been made to believe it is the safest neighborhood, therefore enticing you to pay top dollar for the property, and you found out that is not the case, you may petition for a reimbursement or change in the purchase price of the property.

Presence of Mold

Some houses need to be vacated immediately because of the presence of mold. Now, imagine not knowing that and going the opposite direction–moving in. You are endangering your family’s lives, especially children and the elderly, who have weaker immune and respiratory systems. You may be wondering why they keep getting sick, now knowing that mold growth is your silent but potent enemy. In case you find mold in the house, you will need help in removing it, as well.

The house you buy should be livable. Do your part in double checking its safety and security; otherwise, you’re purposefully endangering your family.