If you are someone about to have a home built and are looking for a property development, then you will, no doubt, understand the importance of thoroughly reading the property report. The report is designed to help you learn all you can about your property and the development it is on. So, what kind of information should a property report contain?
One thing the property report should tell you is the types of amenities you should expect to enjoy when the development has been completed. It should also inform you of the distance to local communities and recreational facilities, etc.
It should also contain information regarding utilities such as the availability of water and sewer services as well as what you can expect to pay for those services now and in the future.
If there are problems pertaining to the building lot itself that could hinder or delay construction, this should also be mentioned in the property report.
Another vital piece of information the report should contain is whether the property has any pre-existing mortgages or liens on it. It should also tell you when you would obtain the title for the property.
After reading this sample of the kind of information a property report should contain, it’s easy to see the importance of studying it before signing a contract. It's also good to note that these reports are prepared by the developer so you will want to be sure you get everything the report promises.
One thing the property report should tell you is the types of amenities you should expect to enjoy when the development has been completed. It should also inform you of the distance to local communities and recreational facilities, etc.
It should also contain information regarding utilities such as the availability of water and sewer services as well as what you can expect to pay for those services now and in the future.
If there are problems pertaining to the building lot itself that could hinder or delay construction, this should also be mentioned in the property report.
Another vital piece of information the report should contain is whether the property has any pre-existing mortgages or liens on it. It should also tell you when you would obtain the title for the property.
After reading this sample of the kind of information a property report should contain, it’s easy to see the importance of studying it before signing a contract. It's also good to note that these reports are prepared by the developer so you will want to be sure you get everything the report promises.
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