1. Get a copy of the title or deed:
The title or deed is the legal document that shows who owns the property. It is important to review this document to make sure that there are no outstanding claims on the property.
2. Conduct a title search:
A title search is a process of checking the title or deed to make sure that there are no outstanding claims on the property. This can help to identify any potential issues with the ownership of the property.
3. Order a survey of the property:
A survey is a physical inspection of the property to identify any potential boundaries or land elevations. This can help to ensure that there are no surprises with regards to the size or shape of the property.
4. Check for any zoning or building violations:
Zoning and building violations can occur when a property is not being used in accordance with the local zoning regulations. Checking for these violations can help to avoid any unwanted surprises down the road.
5. Review the property's sales history:
The sales history of a property can be helpful in understanding how much traffic has been through the property and whether or not it has been sold recently. This information can be helpful in predicting how long the current listing will stay on the market.
6. Examine the property's tax records:
The tax records for a property can show how much money has been paid in taxes for the property in past years. This information can be helpful in predicting how much money will need to be paid in taxes for the property in future years.
7. Request copies of all permits and licenses related to the property:
Permits and licenses are typically issued when work has been done on a property that requires approval from local authorities. Requesting copies of these permits and licenses can help to understand what kind of work has been done on the property in past and whether or not it was done legally.
8. Inspect the exterior of the property:
The exterior of a property can give some clues about its condition and how well it has been maintained in the past. Checking for things like peeling paint, cracks in the walls, or mold can help identify potential repairs that may need to be made in future.
9. Inspect the interior of the property:
The interior of a property can give some clues about its condition and how well it has been maintained in the past. Checking for things like stains on ceilings or floors, broken fixtures, or missing tiles can help identify potential repairs that may need to be made in future.
10. Check for any potential environmental hazards on the property:
Some properties may have environmental hazards such as lead paint or asbestos. These hazards can pose a risk to the health of those who live in or visit the property. Checking for these hazards can help to avoid any potential health risks.