Buyer Due Diligence Part 1

With our accepted offer yesterday, I have 10 business days for the inspection period. I have to decide what inspections to do. The Oregon Property Buyer Advisory
should be my guide. It begins:

A real estate licensee is vital to the home buying process and can provide a variety of services in locating property, negotiating the sale and advising the buyer. A real estate agent is generally not qualified to discover defects or evaluate the physical condition of property; however, a real estate agent can assist a buyer in finding qualified inspectors and provide the buyer with documents and other resources containing vital information about a prospective new home.

This Advisory is designed to assist home buyers in meeting their obligation to satisfy themselves as to the condition and desirability of property they are interested in purchasing. Common issues in real property transactions that home buyers often decide to investigate or verify are summarized in this Advisory. In addition to investigating or verifying these common issues, the buyer should tell the licensee with whom they are working about any special concerns or issues the buyer may have regarding the condition of the property or surrounding area. Such special concerns are not addressed in this Advisory.

I know that we will strip the interior to the studs and replace all the major systems. I know I am going to have the roof evaluated, scope the sewer and sample soil and locate the (in use) oil tank.

One Comment on “Buyer Due Diligence Part 1

  1. thanks for the play-by-play. my wife and i just had an offer accepted on a house in the alberta area. we’ll move there after significant renovation and rent our current house. inspections this week: general, sewer and oil tank. (decided to pass on the radon test.) good luck to all of us!

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