Thank you all for your advice!! We will ask all the “important” questions when the time comes!!
We started out with a buyer’s agent. We ultimately were interested in a property where she was also the seller’s agent. She lowered her commission and we had to sign a release affirming our knowledge that she represented both parties. She also became the seller’s agent for our other property. We had the buyer in advance. She basically just handled the paperwork for that and didn’t charge much. She was great and it all worked out.
I did the research that Guilherme recommended in his posts. Knowing how many horses and other animals were allowed was critical to us. Also, knowing what set backs were required for construction, type of construction allowed, proximity to wells, ingress for emergency vehicles - the list goes on. I also wanted to know if there were any zoning changes being planned. The one thing I didn’t do in advance was a survey. I wish I had. When I ultimately did - we discovered that one of our fence lines was several inches over the line. Fortunately, it’s in a road easement. So far … so good. It is something I would have to declare in any future sale.
You might also want to look into the local water company if you’re not on a well. You want to know if they’re having any financial problems and how the water tests. A well on the property brings its own requirements for inspection and testing.
You can add any of these requirements into an offer to protect yourself.
2 Likes
since you are in California and the property taxes are under the California’s tax system, the assessed value of most property is based on its purchase price… you have been paying property tax on the improvement (fence) and this fence is not concealed …it is “open and notorious”… after five years that land may be yours by adverse possession.
Did you have title insurance ?
We have a fence on the northern edge of our property that runs off the property but is noted on the title insurance policy and was excluded in the policy
If internet or landlines are important to you, then make sure of the exact company that services the property you’re interested in. I would never again buy a property with satellite internet. Make sure all utilities are actually at the house. If you have to put up utility poles, or dig the trench it may get pricey.
The other posters that say you have to have prequalifying, and preapproval for the mortgage to even look are right. Many tire kickers don’t have that, and agents heave learned that running people around to many showings, and then finding out they don’t qualify for a loan, or have any intention of getting a loan is bad business practice.
Check the zoning yourself also. Don’t take anyone’s word that the type and number of animals is allowed on a property unless you do that yourself. If you want to have any type of business make sure it’s allowed. Verify any setbacks or easements, and any leases on the property also.
Before you start hunting, have a list of must haves, deal breakers, and things you would like to have, and a definite price. It’s easy to see what you can afford, and then start raising the price of places you look at, and that’s not good.
1 Like
