Learning Center |
Closing the Deal | Your Responsibilities
Your Responsibilities
The buyer’s role during the period between entering into the Agreement of Sale and final settlement is an active one. Completing inspections and tests of the property and applying for financing and a title search are only part of the buyer’s activities. A home warranty is another matter you may want to consider. Costs range from $300 to $600 and cover limited aspects of the house, its systems and appliances. You may also wish to investigate the following non-physical conditions, including:
- Governmental zoning, requirements and limitations
- Governmental permits, inspections or certificates
- Limitations, restrictions and requirements affecting use of the property
- Rent and occupancy control
- Schools
- Proximity and adequacy of law enforcement, crime statistics, proximity of registered sex offenders (see section on Megan’s Law) and other criminals
- Proximity to fire, police and other services
- Proximity to commercial, industry or agricultural activities
- Existing and proposed transportation, construction and development, which may affect noise, view or traffic, airport noise, or odor
- Wild and domestic animals, other nuisances, hazards or circumstances