Buyers Checklist for Existing Homes

Purchasing an Existing Home

When purchasing real estate there are certain activities that a buyer is expected to perform. This list should help with guiding prospective buyer’s in performing their due diligence and assist in a smoother transaction from the time of writing the contact until the closing of the transaction.

  1. I have reviewed the boundary lines of the property I am offering to buy.
  2. I have requested a survey of the property from the seller and attached it to the offer.
  3. I have confirmed whether any part of the property is in a flood plain.
  4. I have listed all personal property and fixtures which I desire to remain with the property.
  5. I have listed all obvious repairs I would like the seller to make.
  6. I have determined the approximate age of the major components of the property (roof, heating and air conditioning systems, water heater)
  7. I have examined the property, including the attic, crawl space or basement.
  8. I have seen the property in inclement weather, particularly during rain.
  9. I have reviewed a lead based paint pamphlet from the Department of Housing and Urban Development and reviewed any information regarding lead based paint if the property was built prior to 1978.
  10. I have confirmed all representations from the seller and listing broker regarding the property.
  11. I have reviewed the Seller’s Property Disclosure Statement and attached it to my offer or have included a special stipulation that requires one to be provided to me within a certain timeframe and giving me the right to terminate the contract should disclosures be made that are not acceptable.
  12. I have reviewed a wood destroying organism report on the property and attached it to my offer.
  13. I have confirmed the school district that the property is located in.
  14. I have reviewed the covenants for the neighborhood and the status of the homeowners association including what dues or assessments are required and how much they are.
  15. I have acquainted myself with the neighborhood and the amenities with in the neighborhood.
  16. I have reviewed a market analysis of the comparable properties and have a strategy in place for obtaining the property at a fair price.
  17. I have read the entire contract and am confident that it contains my entire offer.
  18. I have included a reasonable time limit in my offer.
  19. I have signed the offer in all applicable places and initialed any handwritten items.
  20. I have allowed myself ample time to apply for financing, conduct an inspection and close the transaction.