Factors that Could Break a Home Buying Deal

by Marsha Charles 03/22/2020

Photo by Edar via Pixabay

Before you sign on the bottom line, know which items are negotiable and which negate the deal entirely. Clearly defining these in advance can save you significant headaches when the buying bug takes over. Your agent will remind you of your non-negotiables and keep you on the right track.

Here are some big-ticket items to keep in mind before closing out a contract:

  • Major construction issues. During the inspection, if issues with the roof, a significant system like the wiring, plumbing, or HVAC comes up, negotiate to have them fixed or walk away.
  • Review any protected or wetlands designations that apply to the property. Even though the home, pool, fence, pond or ditch is already there, these designations mean you’ll have to get permission from a conservation committee or agency in order to make any changes to your property.
  • If any questions come up in the title search, and it seems there may not be a clear title, walk away. Even though the legalities could eventually get sorted, you’ll be out attorney fees, stress and time lost.
  • Review the right-of-way, easements and utility access. Utilities with lights, poles, pipes or wires crossing the property have the right to inspect, repair, dig and otherwise take care of the utility. Before you can put in a pool, fence or flowerbed, you may need their permission. In addition, some cities have right-of-way clauses meaning they can add berms, boulevards or widen roads into your property. They also have the right to approve where you can locate a driveway and the setback (how close structures are to the property line, roads or easements), which may severely impact how you can build.

If there is land behind your property that does not have egress, that landowner may have easement rights. That means, they may install a driveway right through your land to get to theirs. Easements are listed on the deed, so have your agent or title lawyer clarify anything you don’t understand.

Make sure your real estate agent knows what’s non-negotiable for you so that the property you fall in love with is the one of your dreams, not your nightmares.

About the Author
Author

Marsha Charles

Consistent top listing and selling agent receiving Chairman's Club award for superior sales achievement almost evey year while associated with Preferred Properties, Inc. Consistently received the International Presidents Premier award for sales volume since joining Coldwell Banker Residential Brokerage and ranked in the top 1% of agents in Connecticut and Westchester County. Received recognition as a Top Five Sales Recepient for customer satisfaction since 2010 and listed in Westchester and Connecticut Magazine. Member Top Agents in Connecticut listed by Real Trends. Works with Sellers and Buyers with a strong understanding and attention to needs of those who are relocating . Background and experience in advertising, public relations and photography offer creative and innovative marketing plans for sellers. Realtor designations include: Graduate Real Estate Institute, Certified Residential Specialist, Certified Residential Marketing Specialist. Served as President of New Canaan Board of Realtors, Director and chairman member of the Professional Standards committee. Named Realtor of the year by the New Canaan Board of Realtors. Married and the Mother of four children who attended and graduated from the New Canaan School System . Member of New Canaan, Darien, Greenwich and Fairfield County/State MLS systems. Areas covered include New Canaan, Darien, Rowayton,Norwalk, Wilton, Greenwich and all of lower Fairfield County.