A Property Report… Do You Need One?

Having your own home built is a dream for many homeowners, but there are many things to think about when preparing to do so.  First you want to find the right developer.  When you have them, you will no doubt have many questions about the lot your dream home will be built on.  This is when a property report comes in handy, to provide you with the information you need. What kind of information can you expect to find in a property report?

You will find information about the types of amenities you will have access to when the development is completed.  You will also find out about things like distances to local communities and recreational facilities etc.

The report should also provide information regarding any pre-existing mortgages or liens that the property you are considering purchasing might have.  It will also let you know when you can expect to receive the title of your property.

It should also contain a list of any issues with the lot that cause problems with construction, for example, if there are issues with the soil.

You should find information on what you can expect to pay for utilities both future and present, also availability for water and sewer services.

One thing to be aware of though, is that this property report is prepared by the developers.  Take the time to study it well and be as well-informed as possible when entering into any agreement.