Due to market difficulties, some homebuyers find that seller dishonesty is on the rise; Although it has always been a factor in home sales, the troubled market is causing some sellers to go to great lengths to convince potential buyers to buy their home, even if they have to fudge the details a bit. .

Common lies are usually financial; Sellers may mislead prospective buyers about the cost of their monthly utilities or annual taxes into thinking the home is more affordable. To verify costs, ask to see utility bills from the last few months and go to the tax assessor’s office to see for yourself what the tax situation is.

Some home sellers exaggerate the dimensions of a house or lot to make it look more attractive or because they don’t really know the exact dimensions. Unfortunately, when the lender’s appraisal comes in and the previously quoted dimensions are incorrect, some home buyers may decide that their offer is too high or that the sellers might be lying about other things as well.

Another type of lie, likely one of omission, could include neighborhood dynamics, particularly as it relates to the families living in the houses surrounding the house for sale. If she was selling her house because of an obnoxious next-door neighbor, she probably wouldn’t tell anyone who came to see her house. The best complement to this type of lie is to do a little footwork on your own and talk to the surrounding neighbors to get a sense of the community vibe.

Bank-owned homes are often not required to file a full statement, so be very careful when buying homes in foreclosure. While most states have disclosure laws, part of the lack of disclosure likely stems from the seller simply not knowing about a particular problem. Unless there is physical evidence, a seller may not know about a problem that is about to become a big problem, like a leak about to form or a termite problem in the making. Your best way to protect yourself against problems like this is to invest in a thorough home inspection that covers mold, pest, and radon testing.

To help protect yourself when buying any property, you should always hire a buyers agent to represent you; Your best interest is protected in particular when you hire a real estate agent who holds a higher ethical standard than a real estate agent. Always be a little skeptical when buying a new home anyway, and assume the costs are going to be a bit higher so you can avoid any unpleasant surprises.

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