Today’s home buyers are much more aware of potential hazards that barely rated a second thought a decade or two ago.
These include radon, asbestos, well-water contamination, termites, lead paint, underground oil tanks, structural framing problems, leaking fuel tanks, rusted fixtures, cracked foundations, missing roof shingles, loosened mortar between the bricks in chimneys, water damage, mold, and problems you probably can’t even imagine.
The law in New York does not require home inspections, but many mortgage lenders insist on such inspections, and the standard contract used in this area contains a provision that permits a purchaser to perform one before the contract is finalized. It is something that should always be done. Sellers must complete a disclosure form detailing what they know about a home’s condition, but that is not a substitute for a close inspection. The fee for an inspection is a small price to pay to make sure a house you are considering buying is structurally sound.
Frequently, if a problem is discovered, the seller will agree to fix it before the sale is complete. But, at the very least, you will know what you are getting into.
You may call attorney Henry Gartner, who works out of our office, for representation on your real estate transactions.