HOW TO AVOID HOME BUYER'S REMORSE:

by Janet Wickell

4. When Your Concerns are Valid

There are times that purchases should be halted. The conditions of your contract should allow you to back out with no penalties if:

• You cannot get financing.
• The house does not appraise at a price at or above the contract sales price.
• The home inspections uncover more repair issues than you are willing to take on.
• The property boundary lines are not as represented by the seller.
• A title search uncovers undisclosed easements that give someone else the right to use the property.
• The title search uncovers undisclosed liens that won't be satisfied at closing.
• There are problems with the deed. For instance, the wife of a former owner never released her rights to the property.

These (and other serious problems) are all issues that must be resolved before you purchase the property.

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