Being a Scottsdale second home owner – or any future home owner for that matter – requires special attention and consideration on some home-buying factors on your part.
PR-Inside.com: 2014-11-10 22:25:04
Anyone thinking of getting a second home in Scottsdale would do well to go and buy that second home now. The timing couldn't be any better. In a recent report of the state of the real estate industry in Scottsdale, investors are seen to be less active in 2014 compared to the past few years. Less the competition, this means that individual buyers looking for their second home in Scottsdale are given the chance of better finding their dream Scottsdale second home now.
Buying or Purchase Contract
Home purchasing is not something you do on a day-to-day basis. Unless you are an investor, buying a home is something that you only do twice, thrice, or four times in your lifetime. It entails a lot of money. Therefore, it is only right you look into the contract as a way of protecting yourself by understanding your legal rights and obligations. Read the contract - especially the fine print - in detail.
Seller's Property Disclosure Statement
The Seller's Property Disclosure Statement, also known commonly as the SPDS, is a document that provides a prospective buyer information regarding the property and the condition of the property. The Seller's Property Disclosure Statement is provided by the seller himself and provided to the buyer for his or her perusal. The burden, therefore, falls on the buyer to carefully read and review the SPDS and to verify the information stated as far as their accuracy is concerned.
Home Warranty Policy
The home warranty may or may not be a part of the purchase of a home. In case where a policy is available, the buyer should carefully read the document to learn more about the property's coverage and limitation information.
Independent Third Party Reports and Documents
In some parts of Arizona termite infestation can be a possible problem. Knowing a property's termite treatment history is a good way of assessing the existing condition of a home based on independent, third party reports from pest inspectors. These reports can be gathered from the Office of Pest Management, or OPM, which regulates pest and termite inspectors.
The Advantage of Getting a Real Estate Broker
Finding and acquiring a second home in Scottsdale can mean a lot of legwork and paperwork for the buyer. One of the main advantages of getting a broker is that a buyer who is not well versed on real estate will have someone to walk him through the entire process of finding, selecting, and purchasing his or her second home.
Another advantage of getting a broker is that brokers have ready access to listings of homes and to the plethora of documents – such as that a buyer needs to pore over before deciding on a property.
MLS printouts, Subdivision Disclosure Reports, SPDS, HOA Disclosures, CC&Rs, Tax records, among others. Aside from finding easy, convenient, hassle-free access to these documents, records, and reports, real estate brokers can also translate to the buyer, in layman's terms, what these document mean and how the information contained in them can affect the entire process of acquiring a second home in Scottsdale.
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