Terms and Definitions of home selling and purchasing.
Home inspections should not be confused with bank appraisals, building code inspections and home inspections are not a guarantee of any sort. Rather, a home inspection is intended to be a visual examination of the residence. The inspector will review the readily accessible exposed portions of the housing structure. The home inspector is contacted immediately after the Offer to Purchase contract is signed, and prior to executing the final purchase and sales agreement. Please ask us if you would like more information.
The location of the property you are planning to buy may require buyers to purchase Flood Insurance and present documentation of that insurance at closing. It is critical for Buyers to consult with their insurance agent to ascertain the purchase, premiums due and requirements for Flood Insurance. Please ask us if you would like more information.
When a Buyer is represented by a brokerage firm and becomes interested in a property which is owned by a Seller who is represented by the same firm, this creates a dual agency situation. Carriage House Real Estate does list properties, as well as represent Buyers, so dual agency is possible if a buyer is interested in one of the Carriage House listings. What a dual agent means in terms of the transaction is that a dual agent is authorized to assist both Buyer and Seller in the transaction, but must remain neutral in any conflict of interest that may arise. If we enter into a Dual Agent situation, we will advise you before proceeding. Please ask us if you would like more information.
Massachusetts and federal law requires owners and real estate agents to comply with Property Transfer Lead Paint Notification requirements when a prospective buyer or tenant with an option to buy is about to purchase a home built before 1978.
The aim of this requirement is to inform prospective buyers about:
- The danger lead paint poses to children and adults
- Lead poisoning prevention steps
- The requirements of the Lead Law
We can go over this requirement if need be, so that you are clear on how to proceed.
Radon is a naturally occurring radioactive gas. Since it is a gas, radon can also move into any air space, such as basements or crawl spaces. Once inside an enclosed space, radon can accumulate. For this reason, indoor concentrations are usually higher than those found outdoors. Houses with little air exchange because of improvements to prevent heat loss will generally have higher indoor radon levels than draftier houses. The most obvious remedy is to increase ventilation of the home which allows the radon to escape.
A simple test can determine if there is a level of radon in the basement that would require treatment and we would be happy to go over this with you.
Title 5 on-site sewage disposal system inspections are required when a property is being sold, or there is a transfer of Title, except between spouses. Inpections are necessary to ensure the proper operation, upgrade and maintenance of on-site sewage disposal systems. Under Title 5, the property owner is generally responsible for obtaining an inspection of the system and the Code requires that a copy of the inspection report be submitted to the Buyer. The inspection is intended to provide sufficient information to make a determination as to whether or not the system in its current condition is adequate to protect public health and the environment. The inspection, however, is not a guarantee that the system will continue to function adequately and is not a guarantee that the system will not fail at a later date. We will happy to go over Title V Code as it applies to the property you are considering to buy.