Here are a couple of things for Buyers to look out for when purchasing Real Estate (FOR SALE BY OWNER) in Payson Utah.
1. When you purchase a piece of Real Estate that is for sale by owner, a Buyer should always ask for a copy of the county tax records to make sure that the square footage is correct and that the Seller is actually the owner on title and has the right to sell the property. You can get this info. from your local county office or your local title company. (Your Local Title Company will be able to give you more detail of ownership of the Real Estate).
2. There are many other reasons to have your local Title Company to run a preliminary Title Report such as Liens, easements & anything that may encumber the sale of the Real Estate.
3. Go online and look for a copy of Sellers Property Condition Disclosures. For Sale By Owners are not held to the same standards as Professional Realtors. The Sellers Property Condition Disclosures are designed to make sure Sellers disclose any previous or current defects in the home.
Here is a quick story. I had a Seller call me and ask me to give him a Comparable Market Analysis on his home in Payson Utah, he told me that they had bought the home from a For Sale By Owner and the owner told him that the square footage was over 3,000 square feet and that it was one of the biggest homes in the neighborhood and that the home was built in 1998. Well, I started my research on the property and behold what I found out was that the home was infact only 2,500 square feet and it was built in 1991. Had the Buyer checked the county records, he would have found out the actual square footage and year built. To make things even worse he was also told that everything was in GREAT working order, well about $1,800.00 later and a new furnace and another $500.00 for roof repairs, needless to say he was not a happy camper. Moral of the story is hire a professional Real Estate Agent to help you through the process and protect your best interest. He thought he would save money by not hiring a professional Realtor to represent him, looks like it cost him a lot more in the long run.
Thank you for your time and Happy Home buying and remember be a SMART home Buyer.
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