Central Oregon Owner Will Carry Homes
Whether you are a buyer planning to purchase a home in La Pine that is for sale by owner or an owner selling without the assistance of a REALTOR(R) there are a lot of items that you should be aware of. Have a knowledgeable agent on your side can save you a lot of heart break down the road.Many sellers will offer disclosures of the property, but are they thinking of all there is to disclose? Do they know the current codes virus what the home really is.
- Wells not tested (an Oregon law states all domestic wells be tested for bacteria and nitrates when a home changes hands, some loans will require this too)
- Septic tanks – old and leaking – although it is not YET required these be checked – a good agent will suggest a buyer or seller have the tank pumped and inspected as part of the contract.
- Corners – many areas of Central Oregon do not even have corners – what does this mean – it means you may not really know what you are purchasing.
- Smoke Alarms – another Oregon Law – all homes when they change ownership are to have current smoke alarms which feature a hush button.
Many of the homes for sale by owner are older, one of the biggest reasons – the seller either owns the property out right allowing them to accept payments and carry a contract. These sellers have the best intentions, they are not trying to be dishonest. But, do they or the buyer know what issues can come up in the near future? Do you the buyer know that septic tanks can be too close to wells or that a well can be contaminated?
These are just a couple of the issues I am often asked about too late… after the property is yours and after the problem is yours. Negotiations in a contract are meant for more than the final price, they are meant to be sure that the buyer knows what they are buying.
Next time you make the decision to sell or buy a home make sure you do so with a knowledgeable agent. I of course would love to have the opportunity to serve your Central Oregon Real Estate needs.
Jason Elder says
Excellent Blog. I’ve been reading along and just wanted to say hi. I will be reading more of your posts in the future.
Chris Moran says
Nice writing style. Looking forward to reading more from you.