On This Page
- 1 The Investigation Checklist
- 2 Buy the Property, Not the Staging
- 3 Start With the Property Record
- 4 Compare the Record With the House
- 5 Research the HOA Before You Fall in Love
- 6 Look at the House's Systems
- 7 Investigate Insurance Early
- 8 Look Outside the Property Line
- 9 Visit More Than Once
- 10 Use Property DNA as an Additional Research Layer
- 11 How Lisa Helps
The Investigation Checklist
Before buying a Las Vegas-area home, investigate both the house itself and everything attached to owning it.
That can include:
- physical condition;
- title;
- HOA;
- permits;
- property records;
- insurance;
- flood exposure;
- taxes and assessments;
- solar;
- easements;
- zoning;
- surrounding development;
- noise;
- utilities;
- neighborhood characteristics;
- financing;
- future ownership costs.
A beautiful kitchen cannot compensate for discovering after closing that the property has a problem you could have investigated before buying.
Buy the Property, Not the Staging
Buyers naturally focus on what they can see.
You notice countertops, flooring, pool, backyard, paint, primary bedroom, and view.
Those things matter.
But some of the most important information about a property is invisible during a 20-minute showing.
A buyer should ask: What am I actually buying?
Start With the Property Record
Research the address and parcel.
Depending on the property and jurisdiction, records may help you investigate:
- parcel information;
- ownership;
- recorded characteristics;
- land use;
- permits;
- prior transactions;
- other public-record information.
Do not assume every website reproducing public records is current or accurate.
Compare the Record With the House
This is where things get interesting.
Example
Listing says: 2,450 square feet.
Records suggest: 2,050 square feet.
Where did 400 square feet come from?
Maybe there was a legitimate permitted addition.
Maybe a garage was converted.
Maybe records are incomplete.
Maybe one source is wrong.
The answer is not to panic.
The answer is to investigate.
Research the HOA Before You Fall in Love
If the property belongs to an HOA, investigate more than the monthly payment.
Look at governing documents, rules, financial information available to buyers, reserves, special assessments, pending issues, rental restrictions, parking restrictions, and architectural rules.
A $90 HOA with poor finances is not automatically better than a $180 HOA with healthy reserves.
Look at the House's Systems
The inspection process may involve more than a general home inspection. Depending on the property, consider HVAC, roof, plumbing, sewer, pool, electrical, structural issues, pests, and solar.
Investigate Insurance Early
Do not wait until the day before closing.
The home's roof, claims history, condition, pool, and property characteristics may affect insurance availability or cost.
Look Outside the Property Line
The empty land behind the home may not remain empty.
The quiet road may be part of a future transportation project.
The view may depend on property the seller does not own.
Research zoning, land-use applications, nearby development, major roads, commercial uses, and vacant parcels.
Visit More Than Once
A neighborhood at Tuesday, 10:00 a.m. can feel completely different at Friday, 8:00 p.m.
If something matters to you, investigate it personally.
Drive morning, evening, and weekend.
Listen.
Look.
Do not outsource every lifestyle decision to your REALTOR®.
Use Property DNA as an Additional Research Layer
Lisa can request a free Property DNA report before you buy.
Depending on available data, the report may help organize information involving parcel, property characteristics, ownership/history, nearby properties, market information, public-record information, and flood/environmental or geographic information where available.
Property DNA is not a substitute for professional due diligence.
It is another set of eyes.
Important
Property DNA is free through Lisa and available for multiple properties. It is a research accelerator, not a substitute for a title search, title insurance, an appraisal, a home inspection, a survey, seller disclosures, an HOA review, insurance research, or legal advice.
How Lisa Helps
Lisa's job is not to convince you to buy every house you tour.
Sometimes the most valuable thing a REALTOR® can say is: "Before we go any further, let's figure out what this is."
That is how Lisa approaches due diligence.
