Fort Worth Real Estate Transactions
February 28, 2008
When you finally make your offer to purchase your new piece of Fort Worth Real Estate, there are certain disclosures the homeowner is obligated to make. If the seller does not voluntarily discuss disclosures with you, you should begin asking questions to ensure you will not run into trouble later on.
Functional Disclosures
The seller should tell you about anything in the house that does not work properly or is damaged. This is especially important for such things as electricity, plumbing and appliances like the water heater. Defects in these areas can lead to significant damage to your new home.
Natural Disasters
If the home lies within an area that is prone to certain natural disasters, such as on an earthquake fault line or in a flood plain, the seller must disclose such information to you. Normally you will receive a geology report that will include this information.
Endangered Species
This disclosure is particularly important if you are purchasing a piece of Fort Worth Texas Real Estate that is as of yet unimproved and you plan to build on it. If you have a resident endangered species on your property, such as a rare toad or lizard, you may not be able to build on the property. Make sure you know why the land is still vacant – even certain forms of shrubbery cannot be disturbed, so take the time to ensure the property is buildable.
Other considerations to keep in mind are whether your prospective piece of Fort Worth TX Real Estate has hazardous materials on the property, which can be difficult and costly to dispose of, or if it is in a noise zone, such as within the flight path of a major airport. In order to protect yourself you need to be aware of all of these important disclosures
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