Caveat Emptor - Pay attention to details when you are looking at homes!

The Latin term Caveat Emptor literally means "Let the buyer beware". Under the doctrine of caveat emptor, defects rendering the property "unfit for ordinary purposes" would be unrecoverable from the seller, with just one exception- That is, if the seller knowingly and actively concealed latent defects or otherwise made material misrepresentations tantamount  to fraud.

There are a lot of things to look for, both good and bad, overt and hidden, when you are looking at homes. There are some things about the home that you buy that  you may never find out until you actually own it.

Some of the more obvious things to look for:

Do you like the layout?
Is there enough storage space?
Is there enough room for your needs right now, and what you think you might need in the future?
Do you think that the house will look and feel  as appealing to you during different times of the year?

*Does anything need to be repaired or replaced?
*Are the mechanical systems in good order?
*Do the appliances work?*

*Asterisked items may signal a bigger problem, having to due with normal maintenance that really should be a given. If the homeowner hasn't fixed or maintained major components of the house, what else has been neglected?

When I initially show a house, I do a mini-building inspection. No, I am not a building inspector, and I do not profess to have that kind of extensive knowledge, BUT there are a few things that I can do as your agent that will most certainly help you make an informed decision as to how far you want to go with a particular house.

Some of these little tests I perform on homes as I am showing them:

• If there are area rugs, I pick them up to see if the seller is hiding any unsightly cracks or defects in the floor. Sellers may not necessarily be concealing it just to defraud you- they may just not want to look at them on a daily basis. It may sound dumb, but how would you feel if  you spotted it for the first time on the day you did the final walk-through on the house?

• Open and close all of the interior doors to make sure that they work properly. If there are one or two that don't shut, no biggie- but all throughout the house signals a BIG problem. Wouldn't you like to know this right away? -Before you put in an offer, or pay for a building inspection?

• Try and wiggle whatever railings there are- front porch, upstairs, and down to the basement. Again these sellers are aware of the frailty of the railings, but tend to forget about it, and live with it. It's just something that you should know that will need repair.

• Check the bathroom for loose tiles, and water seepage around the toilet, tub and tile. Again, I do not ever take the place  of a building inspector- if I find something of concern, I will let you know and if you like the home enough to place an offer on it, when it comes time for the building inspection, you can tell the inspector to look at that area more closely.

• The roof- since roofs generally last about 20 years and you can only put on two layers of roofing before  it needs to be stripped down to the wood , pay attention to when the house was built-  as of right now, if you are looking at a house that was built from 1985-1990, and it is NOT obvious that there is a new roof on it,  expect a new roof to be an expense in a few years. If the home was built anytime in the 60's-70's, and there is not a new roof on it, know that when you need to replace the roof that you will most likely have to strip down two layers of roofing on the house already, and the cost will be more than usual. This is not a hard and fast rule of thumb, it depends a lot on the location, the amount of sun or shade, and the quality of the roofing materials.  

Those are just a  few of the very many things that I look for when I am showing properties to buyers.

There are a lot of tips that I reserve for my clients ONLY, and when you become one, you'll get that benefit. When you are ready to buy a home, just contact me, and I look forward to hearing from you!

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All about Carbon Monoxide Poisoning & Detectors

I am very pleased to introduce one of the leading authorities in the country on Building Inspections as a guest contributor to the CT Home Blog at www.theCTrealtyBlog.com.

Nick Gromicko, President of www.cominspect.com, is also the Founder of the International Association of Certified Home Inspectors, the world's most elite, non-profit home inspection association. Author of 15 books, his knowledge is unsurpassed in his field, and I am honored that he would share his expertise with my readers. He is also a Director at www.certifiedmasterinspector.org  You won't find a better authority.

CARBON MONOXIDE POISONING AND DETECTORS - by Nick Gromicko and Rob London  

 Carbon monoxide (CO) is a colorless, odorless, poisonous gas that forms from incomplete combustion of fuels, such as natural or liquefied petroleum gas, oil, wood or coal.  

Facts and Figures

• 480 U.S. residents died between 2001 and 2003 from non-fire-related carbon-monoxide poisoning.
• Most CO exposures occur during the winter months, especially in December (including 56 deaths, and 2,157 non-fatal exposures), and in January (including 69 deaths and 2,511 non-fatal exposures). The peak time of day for CO exposure is between 6 and 10 p.m.
• Many experts believe that CO poisoning statistics understate the problem. Because the symptoms of CO poisoning mimic a range of common health ailments, it is likely that a large number of mild to mid-level exposures are never identified, diagnosed, or accounted for in any way in carbon monoxide statistics.
• Out of all reported non-fire carbon-monoxide incidents, 89% or almost nine out of 10 of them take place in a home.

Physiology of Carbon Monoxide Poisoning

When CO is inhaled, it displaces the oxygen that would ordinarily bind with hemoglobin, a process the effectively suffocates the body. CO can poison slowly over a period of several hours, even in low concentrations. Sensitive organs, such as the brain, heart and lungs, suffer the most from a lack of oxygen.

High concentrations of carbon monoxide can kill in less than five minutes. At low concentrations, it will require a longer period of time to affect the body. Exceeding the EPA concentration of 9 parts per million (ppm) for more than eight hours may have adverse health affects. The limit of CO exposure for healthy workers, as prescribed by the U.S. Occupational Health and Safety Administration, is 50 ppm.   Potential Sources of Carbon Monoxide
Any fuel-burning appliances which are malfunctioning or improperly installed can be a source of CO, such as:

• furnaces;
• stoves and ovens;
• water heaters;
• dryers; 
• room and space heaters; 
• fireplaces and wood stoves;
• charcoal grills;
• automobiles;
• clogged chimneys or flues;
• space heaters;
• power tools that run on fuel;
• gas and charcoal grills;
• certain types of swimming pool heaters; and 
• boat engines.

CO Detector Placement

CO detectors can monitor exposure levels, but do not place them:

• directly above or beside fuel-burning appliances, as appliances may emit a small amount of carbon monoxide upon start-up;
• within 15 feet of heating and cooking appliances, or in or near very humid areas, such as bathrooms;
• within 5 feet of kitchen stoves and ovens, or near areas locations where household chemicals and bleach are stored (store such chemicals away from bathrooms and kitchens, whenever possible);
• in garages, kitchens, furnace rooms, or in any extremely dusty, dirty, humid, or greasy areas;
• in direct sunlight, or in areas subjected to temperature extremes. These include unconditioned crawlspaces, unfinished attics, un-insulated or poorly insulated ceilings, and porches;
• in turbulent air near ceiling fans, heat vents, air conditioners, fresh-air returns, or open windows. Blowing air may prevent carbon monoxide from reaching the CO sensors.

Do place CO detectors:

• within 10 feet of each bedroom door and near all sleeping areas, where it can wake sleepers. The Consumer Product Safety Commission (CPSC) and Underwriters Laboratories (UL) recommend that every home have at least one carbon monoxide detector for each floor of the home, and within hearing range of each sleeping area;
• on every floor of your home, including the basement (source:  International Association of Fire Chiefs/IAFC);
• near or over any attached garage. Carbon monoxide detectors are affected by excessive humidity and by close proximity to gas stoves (source:  City of New York);
• near, but not directly above, combustion appliances, such as furnaces, water heaters, and fireplaces, and in the garage (source:  UL); and
• on the ceiling in the same room as permanently installed fuel-burning appliances, and centrally located on every habitable level, and in every HVAC zone of the building (source:  National Fire Protection Association 720). This rule applies to commercial buildings.

In North America, some national, state and local municipalities require installation of CO detectors in new and existing homes, as well as commercial businesses, among them:  Illinois, Massachusetts, Minnesota, New Jersey, Vermont and New York City, and the Canadian province of Ontario. Installers are encouraged to check with their local municipality to determine what specific requirements have been enacted in their jurisdiction.

How can I prevent CO poisoning?

• Purchase and install carbon monoxide detectors with labels showing that they meet the requirements of the new UL standard 2034 or Comprehensive Safety Analysis 6.19 safety standards.
• Make sure appliances are installed and operated according to the manufacturer's instructions and local building codes. Have the heating system professionally inspected by an InterNACHI inspector and serviced annually to ensure proper operation. The inspector should also check chimneys and flues for blockages, corrosion, partial and complete disconnections, and loose connections.
• Never service fuel-burning appliances without the proper knowledge, skill and tools. Always refer to the owner's manual when performing minor adjustments and when servicing fuel-burning equipment.
• Never operate a portable generator or any other gasoline engine-powered tool either in or near an enclosed space, such as a garage, house or other building. Even with open doors and windows, these spaces can trap CO and allow it to quickly build to lethal levels.
• Never use portable fuel-burning camping equipment inside a home, garage, vehicle or tent unless it is specifically designed for use in an enclosed space and provides instructions for safe use in an enclosed area.
• Never burn charcoal inside a home, garage, vehicle or tent.
• Never leave a car running in an attached garage, even with the garage door open.
• Never use gas appliances, such as ranges, ovens or clothes dryers to heat your home.
• Never operate un-vented fuel-burning appliances in any room where people are sleeping.
• During home renovations, ensure that appliance vents and chimneys are not blocked by tarps or debris. Make sure appliances are in proper working order when renovations are complete.
• Do not place generators in the garage or close to the home. People lose power in their homes and get so excited about using their gas-powered generator that they don't pay attention to where it is placed. The owner's manual should explain how far the generator should be from the home.
• Clean the chimney. Open the hatch at the bottom of the chimney to remove the ashes.  Hire a chimney sweep annually.
• Check vents. Regularly inspect your home's external vents to ensure they are not obscured by debris, dirt or snow.

  In summary, carbon monoxide is a dangerous poison that can be created by various household appliances. CO detectors must be placed strategically throughout the home or business in order to alert occupants of high levels of the gas.  

Nick Gromicko, FOUNDER. www.nachi.org
International Association of Certified Home Inspectors (InterNACHI) is the world's most elite, non-profit inspection association.
President, ComInspect, www.cominspect.com
Director, Master Inspector Certification Board, www.certifiedmasterinspector.org
Author, 15 books and Co-Host of  www.NACHI.TV

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Seller or Owner financing, and the term "taking back paper" - Do's and Don'ts

Seller financing is defined as a  loan provided by the seller of a home to the purchaser. It could be for a portion of the sale amount, or for the entire purchase less a downpayment. The buyer would then make monthly installment payments over a specified time until the loan is fully repaid at an agreed-upon interest rate.

A seller take-back is just like a loan from any lender. It must be repaid according to the terms and conditions outlined in the note. If not repaid, the property can be foreclosed upon, just like with a bank.

Have an attorney prepare and review the take-back/seller financing  loan papers before signing anything. If you are a seller, insist on seeing a buyer’s credit report and past tax information — just like any lender. And be sure that any loan arrangement is written according to terms which are satisfactory to your attorney.

There are benefits and drawbacks to both parties.

BUYER BENEFITS:
It may be the only way that you can purchase a home at this time.
Both the buyer and the seller can quite possibly save a lot of money in closing costs. The seller conveyance tax on property is going up as of July 1, 2011. It might help your case!
You  can negotiate an interest rate, repayment schedule, and other conditions of the loan, not like with a bank
 You , as the borrower would not have to pay PMI insurance unless required by the seller, and as a bonus, you do not have to go through a bank's loan underwriting department, who usually places conditions of the loan with your approval, if you can get one. .
 
BUYER DRAWBACKS:
You could pay the loan  back in full but still not receive clear title due  to encumbrances, items not divulged by or unknown to the seller, or the seller disappears. He would have to file a release of lien for you to be able to sell the home when you want to.
You may not have had the privilege or right to obtain the protection of a home inspection, mortgage insurance, or an bank appraisal to ensure that you are  not paying too much for the property. Make sure this is part of your agreement.
Make sure that you hold title to the property with a seller note. If you don't and he defaults on his current loan, or has encumbrances on the property that you are not aware of, YOU will be kicked out, and your money lost  if he goes into foreclosure.

SELLER BENEFITS:
The seller can receive a higher yield on his/her investment by receiving equity with interest, if negotiated that way.
The seller could negotiate a higher selling price  as well as higher interest rate.
The property could be sold "as is" so there will be no need for repairs.
The seller could choose which security documents (mortgage, deed of trust, land sales document, etc.) to best secure his/her interest until the loan is paid.

SELLER DRAWBACKS:
The seller might not get the buyer’s full credit or employment picture, which could make foreclosure more likely.
Depending upon whatever security instrument that was used, foreclosure could take up to a year or longer, if unfortunately needed.
The seller could agree to a small down payment from the buyer to try and help out the buyer and to make the sale, only to have the buyer abandon the property because of the small investment that was at stake.

Seller-financed sales can be good, as long as it is a win-win situation for all parties- good for both seller and buyer.  NEVER attempt to enter into a transaction like this without the assistance and guidance of your attorney.

GREAT COMMENT BELOW BY JENNIFER BUCHANAN- PLEASE READ

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What you should know before choosing a neighborhood to live in

Buying a home is a big investment of time, money and emotions. It can  be a dauntless task without the best guidance possible and assistance available to you. So go ahead, and ask questions of your agent if something is of concern to you. Maybe your question or concern is not  something that most other people would ask. I say ask anyway- you are spending thousands of dollars and you have every right.  A few things to consider are:

Resale statistics- What are the resale statistics for the last 10 years for the house, (if it has been sold receently), the street, the neighborhood, and the town? Compare them and see how that home stacks up.

How recession proof is the neighborhood?Is the neighborhood transient? More sales activity on any given street, and homeowners moving in and moving out in a few years rather than the national average of seven years could be a positive thing, or a negative one. If the homeowners all tend to work at one company, and that company isn't doing well for example, then there may be a lot of layoffs, and home sales at distressed values. That could hurt your resale for years. If the neighborhod is considered transient, it could be  1) that it is a starter neighborhood (no issues) or, 2) It could be a lot of executives choose the location for its proximity to transportation and they get transferred (no issues), but that doesn;t always mean that a transient neighborhood is a safe investment.  Just ask your agent to give you statistics, and be prepared to stay there emotionally and monetarily  if a recession hits.

Public School rankings- Very important even if you don't have any children, or any children in school.   When you decide to sell the home, buyers always ask for the best school districts. If at all possible, look for a house in that district. It may not make a difference to you now, but when you sell, you will get more of a premium for your home because of it.

Where are the sought after streets, and why? Every town or city has those few streets that have that "je ne se quios". Find out which streets they are- and why, if you can. I can think of a few streets in every town that just say "YOU MADE IT", and others are well known for neighborhood activities.  The homes on those streets tend to sell quicker and for more money, so be on alert.

What streets have traditionally had less than average  re-sale value? You know they exist- think about a street right now in the town where you live, and  people grimace when the name of that street comes up. That very good deal on that house in the town that you want to live in could be a very good deal because of that!  Also take note, that some neighborhoods have natural boundary lines, and if you want to live within that neighborhood, that across the street from that boundary line is not considered in that neighborhood. I can think of areas in cities where one side of the street is considered okay, and the other side IS NOT. Check into it!

Neighborhood ambience.  Does the neighborhood have the same feel throughout, or does it change down the street. If so, why? Do certain homes stick out as being absolutely perfect, while others look like they are unkempt? Pay attention to the neighborhood, and that brings me to my next point.

Does the neighborhood have a different feel from day to night, or weekday to weekend? There are neighborhoods that I, personally, wouldn't venture into after 8PM at night. If that's the case, I won't take you there in the day to look at a home. Some neighborhoods change at night, and that change may not be to your standards, so it is important to see for yourself.

Where are the parks, shopping, restaurants, health and town facilities. Well maybe you don't care too much about the parks for yourself, but it only helps resale value if you are close- just not too close. You might wnat to know if the nearest grocer closes at six PM, and doesn't have as much stock as you would like. Walk in clinics, hospitals, and pharmacies are important too. Nowadays, there are usually walk in clinics in most towns that we all hope that you don't need, but you have to think about that. You should also be able to find 24 hour pharmacies in somewhat close proximity. And where are the fire hydrants on your street, how close are they to your home, where is the nearest fire department, what's their response time, and where is the Police department. Lots of research, I know. Better done sooner than later when it's too late.

Crime rate for the neighborhood, as well as for the house itself. Check into the crime rate for the neighborhood. As an agent, I am unable to tell you this, however I can reer you to the Police Department and you can ask yourself. You may want to ask for the history of any crimes reported at the house, as well. If a violent offender lived at the house previously, someone exacting revenge on that person may not know they no longer live there. Might it be a good idea for you to check that out? I think so. You may also want to check the sex offender registry to see if anyone on that list lives on your street or nearby. If you have a question about poltergeists, or psychological impacts on the home, see my previous post on that here.

I am happy to help you  through your buying process, and make it as easy as possible. Just look at some  testimonials from past clients. They say it better than I ever could.

... and when you are ready to buy a home, please contact me :)

Is there such a thing as proper etiquette when buying a home?

If you are in the market to purchase a home, there is some standard of behavior towards homesellers, other homebuyers, and Realtors that is just common sense, as in the "Do unto others, as you would have them do unto you" general rule. Sometimes, a homebuyer is unaware that a gesture, comment or action could be considered inappropriate, and may impact their purchase in a negative way.  I am not singling anyone out, and absolutely mean no harm  to anyone by suggesting that buyers do any of these things on purpose, or with malicious intent.

1. Sellers and/or agents cannot always accommodate an immediate appointment. In many instances, at least three phone calls, and three conversations must take place before an appointment is confirmed. If just one person is unavailable, it will delay a prompt appointment. Al of that is assuming the agent can go on a moment's notice- which is not always the case.

2.If you are working with an agent who is on vacation, or away for the weekend, do not call the listing agent to show you their listing. For that matter, do not call any other agent other than the one that is covering for your agent while they are away for any reason. It's disrespectful to your agent, and the other agent involved. Ask your Realtor who to call in he/she will be away for any amount of time.

3. If your friend is  Realtor, and they are "helping you out", do not call another agent because you don't want to bother your friend. Again- disrespectful to your friend as well as the other agent.

4.Do not ever go to a listed home unescorted by your agent, or walk someone's property without express permission to do so.

5. If you have signed a contract for an agent to represent you in your purchase, do not mislead another agent by telling them you haven't. This one could actually cost you money, so it's very important.

6. Wipe your feet before you walk into a home, remove your shoes if the seller has requested it, and ask if you can use the bathroom in the home if you need to.

7. Do not take photos of the interior of the home unless you get permission to do so first.

8. If you are previewing homes for an intended purchase next year, let your agent know. They may not show you as many properties, but they may have clients that need to purchase right away, and they will take precedent over you. It's only fair- if you were in  a rush, you would expect to take precedent over someone who was not, and you would be well within your rights to feel that way.

9. If you are a licensed agent yourself, and do not have access to the MLS, tell the agent.(and you should know better than to withhold that)

10. If your agent asks you for financial information, such as a prequalification letter, a pre-approval letter, or proof of funds (for cash buyers), please don't be offended. It's standard practice-the seller will need that information even if you offer 10% ABOVE asking price.

11. Don't stalk the house, for heaven's sake

12. It is against the law for agents to show you houses without  represention, or an acknowledgement from you that you don't want it. At the very minimum, an agreement for the particular property for a short time frame should not be too cumbersome. You do want to make sure that you and your agent will get along, and guess what? The agent is interviewing you as a potential client just as much as you are interviewing that agent as a potential representative.

13. There is no need to bad-mouth a house in front of the seller.

14.If another buyer is viewing the home when you arrive on time  for your scheduled appointment, it is proper to wait outside and give that buyer their space while they are previewing the home.

15. If you are going to be late for a scheduled appointment, whether it's meeting your agent at their office, or meeting your agent at the property, call or text your Realtor. Your agent may have a number of appointments scheduled that are on a time crunch. Some sellers have very specific times that buyers can see their home, and cannot accommodate an appointment if the buyer is even ten minutes late. Give your agent the opportunity to call those sellers and let them know. One of those houses could be the one that you want to buy, and you've gotten the seller mad at you because you came late. All of this is not to mention that it is rude to your agent to be late without a call telling them so.

16. There are generally accepted viewing times. Eight AM on a Sunday morning is not one of them- neither is 9 PM on any evening. Use discretion- we understand that your schedule may be tight, and agents and sellers alike will most always do everything to accommodate you, just be reasonable.

17. Do not call the homeowner directly to discuss anything, period.

18. If you drive up to a house, and absolutely hate the neighborhood, the street or the house itself, don't refuse to go in. Just make an effort to go through the house very quickly and leave. That seller has anticipated the appointment and would be very hurt if you couldn't even walk in the door.  Who knows, you may be surprised. NOTE: If the seller is not home, and you don't want to go in for whatever reason, your agent can handle that, and no need to go in to a house that you know you don't want if no one knows. (Expect your agent to make a call to the Listing agent telling them just that.)

19. Don't overstay your welcome at the house, or on the property. There is a reasonable amount of time to look at a home, and for some people it's only five minutes, for most- it's about twenty minutes, and for a few more, it's upwards of 45 minutes. All are okay- you should go at our own pace- nothing wrong with that. Just stay focused on the house that you are seeing, and don't talk about the other homes on your agenda, or Johnny's baseball game, or dinner tomorrow night at your favorite restaurant  while you are there.

20. Keep any positive or negative comments to yourself until you are in the car and out of earshot to the homeowner.