could someone decipher this????

sum1October 6, 2012

This is the house that I want... it wasnt listed in mls until now and the broker wrote this...

Estate property. Buyer to Verify ALL data and go to town hall to verify all data and questions about the subject property prior to sales agreement

What does this mean besides the owner being deceased (i knew that)

Can I buy this house with an attorney.. I already went to town hall checked for leins, mortgages etc.. all clear

anything help would be great

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azmom

What type of data do you think you should check and verify?

Why not list them out so that the rest of us could help you to fill in holes?

    Bookmark   October 6, 2012 at 10:23AM
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sum1

lol that was MY question... what kind of data needs to be verified, besides what I mentioned. why would a listing agent write this ?? is this in place of disclosures?? a find out for yourself listing??

    Bookmark   October 6, 2012 at 11:51AM
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stolenidentity

"Estate property. Buyer to Verify ALL data and go to town hall to verify all data and questions about the subject property prior to sales agreement" -

seems to me you will need to verify ALL data and that should include: Permits, Covenants, Year Built, Square Footage, Construction Class, Building Quality, Lot Size, Present Use, Designations, Nuisances, Problems, Environment Issues,

blah blah blah. You don't need an attorney or agent to learn all this.

    Bookmark   October 6, 2012 at 9:09PM
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Sophie Wheeler

It means that since the property was an inheritance, that the current owner and agent "know nothing" about whether or not there were permits pulled for any renovations, or the age of any of the home systems, or if the there is a buried oil tank on the property, or if there is someone on the sex offenders database living next door, of if the property across the street was just sold to be demolished and have a convenience store put in it's place,........

In other words, it's a heads up to do your due diligence very well, as they aren't disclosing anything about the property, because they "don't know". It's similar to many foreclosed homes. If you buy it and find that buried oil tank on the property, then tough luck, it's yours to clean up.

So, check with your local record keeping municipality, any fuel oil suppliers, any criminal databases, and don't just have a home inspection, have an actual trade come out and assess any areas that may have been flagged on the home inspection report, within reason. If the house is 40 years old, and the HVAC looks all original, I wouldn't bother with a HVAC specialist, as you'll be replacing all of that anyway. However, if the HI report comes back that the home only has a 60 amp service, I'd want an electrician to give me an idea if new service from the pole was needed or if the panel itself needed upgrading and more distributing wire run to the rooms. Same with the plumbing. If it's galvanized, or a hodgepodge of visible repairs to the copper in the basement, then you know to budget fixing it no matter what, no need for a plumber's opinion. So, do your due diligence, but given the age of the house, also plan on needing a decent amount of reserve should one of those major systems fail before you can get to it in time.

    Bookmark   October 7, 2012 at 10:04AM
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brickeyee

"It means that since the property was an inheritance"

Or being sold by the executor of the estate.

Expects a 'special warranty deed' instead of a 'general warranty deed,' and get an owner's title insurance policy with inflation coverage.

    Bookmark   October 8, 2012 at 10:28AM
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