Buyer Beware!!! Wow that sounds scary right? What is the Buyer Beware Principle in Homebuying explores why you need an inspection. I make sure that my buyers understand the implications of the language in contracts and sales. While, I am not a lawyer, as a buyer agent it is my duty to explain certain things to buyers, like the duties of the seller to disclose to the buyer. The common law rule in Pennsylvania is “caveat emptor” or buyer beware, however there are limits on this rule where sellers are required to give buyers written notice of material defects. These will be included in seller disclosures. If you would like exact information on this, consulting the Pennsylvanie Home Sellers Disclosures Required Under State Law is a resource to consult. Where a seller is unaware of a defect, they are not liable. What does this mean for buyers?
This is one of the reasons, I always recommend that buyers undergo inspections. In today’s market many buyers make concessions to get their offer accepted. One of those concessions is forgoing inspections. Inspections are a buyers first line of defence against the buyer beware, or caveat emptor principle. As a buyer agent, I recommend against this. There are things an inspection may find that cost thousands down the line. Some issues to be on the lookout for are in Basements, look for wall cracks and open electrical wiring, in Living areas keep an eye out for bulging ceilings or lack of ventilation, in Attics and roofs look for low insulation levels and curled shingles, on Exterior walls, look for rotting wood and cracked or loose brick, also be on the look out for condensation on windows or wet drywall, evidence of termites or pests, and weak locks and the smoke alarm placement. All of these potential hazards can be properly assessed with a reputable and licensed inspection company. If you are considering buying a home this year, please reach out and we can discuss your options and protect your interests.
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