How to Research Real Estate Before Buying It?

A licenced real estate agent can perform all these searches for you in an official capacity and if you are still not satisfied, you can enquire on your own with the local building council or check out their websites for more information.

You also need to find out if the real estate property you are considering has followed all the latest government regulations for which the seller is responsible.

Property Research: 

Flood Zones – Check out if the real estate property you are considering is located in a flood zone. A 100 year government flood zone map will help you in your search. If the property lies in a flood prone zone and you still want to buy it, you may require flood insurance. Contact real estate sales agents if you are unaware of the real estate market.

Remodels and Permits – Check out the county or city website and find out if the remodelling projects carried out in a property were done safety, properly and in a legal manner with building permits issued by the legal authorities.

Length of Ownership – Take the help of your buyer’s agent to find out the length of ownership for the house you are considering. Property tax records will demonstrate both the length of ownership and the amount of money the seller had to pay for it.

Days on the Market – When a real estate property sits on the market for a very long time, it often shows that the seller would be willing to lower the asking price to get the house off his shoulders. Longer days on the market period also means the seller is flexible and open to price reduction.

Walkabout – Do some legwork. Check out the house you intend to buy several times, all at different times of the day and different days of the weeks. Check out the neighbourhood as well and not just the house.

This way you will find out the quality of neighbours you are inheriting and will also gain insights into the property itself. If you have reservations about your neighbours, you can back out of the deal before it is too late.

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