You’ve just bought a new Muskoka home or cottage – congratulations! It’s all yours now…well, almost. Buying a property has a number of steps to it and the overall process can be daunting. Before you move into your new home, there are a few things you need to do and know.
One important part of the home-buying process is to retain the services of a real estate lawyer who understands the “nuts and bolts” of your purchase and will be able to handle all the legalities. As an experienced legal team, we’ve outlined some of the common questions we get regarding visiting your newly-bought home before you move in:
1.How many times can I go to see the house before moving day?
The majority of buyers ask for two visits to the property before they move in. It’s recommended you give ample notice and be respectful of the seller’s time and schedules as well as the realtor’s. In order to set up your walk-through, you would simply need to ask your realtor to book the appointment for you with the seller’s agent. The buyer should never contact the seller directly.
2. During my visit to the house, if I find any issues what should I do?
Going back to walk through your new home is the perfect opportunity to look for any problems or potential issues. If you do see anything that concerns you, write out a list and give it to your realtor. They will pass the information along to the current home owner and will work with the seller’s agent to get these problems or issues resolved before you take possession.
3. Is a home inspection considered one of my allowed visits?
A home inspection is separate from your individual visits to your new home. Getting an inspection done by a reputable company before you move in and take possession is due diligence and worth every penny; an inspector is trained to see things you wouldn’t typically notice. For example, does the house need a new roof? Is there a crack in the foundation? Is there asbestos in the insulation? The final report you receive will give you a clearer perspective on the home as a structure (and not just your dream home) as a result of anything uncovered in the report.
4. Is the home appraisal the same as an inspection?
No, the appraisal is requested from your bank or lender and is separate from a home inspection. This appraisal is conducted to make sure the value of the property is consistent with the amount you are asking to borrow. It’s worth saying that this step ultimately protects you from potentially overpaying on the property, while also protecting the bank from supporting a poor investment.
5.What if my new house has a well and septic tank?
A lot of properties in rural areas may be on a septic system and have a drilled or dug well instead of being tied into the municipal services. If your new home has either of these systems, you must request a water test for the well. You’ll also want to make sure you are given proof it was checked and have a report telling you that the water is clear of containments. The same applies if your house has a septic system; ensure the sellers get it inspected and pumped out (if necessary) before you move in. In most cases, unless it’s stated in the purchase agreement, the seller is responsible for cleaning up the contamination. That’s an important “little thing” your real estate lawyer will have an eagle eye for in the details of your contracts.
6.What should I expect on my final visit?
You want to make sure the condition of the house is good. Take your initial list of repairs with you and check that everything has been done. Remember to take measurements of windows and doorways so that when you move in, you know your belongings will fit through the front door and up the stairs.
Whether this is your first home or your tenth, it’s always important to have all the information you can so you can feel confident moving forward with your big purchase. At Ares Law, we specialize in helping clients just like you with all their real estate needs and it’s our job to answer any questions you might have. Simply call Bernie Keating and the experienced team in Bracebridge at (705) 645–8743.
