On This Page
- 1 What Could I Discover After Closing?
- 2 The AC Dies in July
- 3 The HOA Announces a Large Assessment
- 4 Your Fourth Bedroom Is a Garage Conversion
- 5 Your Insurance Cost Is Much Higher Than Expected
- 6 That Empty Desert Becomes Development
- 7 You Discover a Rental Rule
- 8 The Solar Agreement Isn't What You Thought
- 9 The Lesson
What Could I Discover After Closing?
Most buyers worry about losing the house before closing.
The smarter question is: What could I discover after closing that I wish I had known before buying?
Potential surprises include:
- failing HVAC;
- roof problems;
- plumbing issues;
- insurance costs;
- HOA assessments;
- rental restrictions;
- solar obligations;
- unpermitted construction;
- boundary disputes;
- nearby development;
- traffic or aircraft noise;
- higher-than-expected ownership costs.
The AC Dies in July
In Las Vegas, this is more than annoying.
If the HVAC is older, learn its approximate age, service history if available, operating condition, and inspector observations.
Old does not mean bad.
But old plus poor condition plus no budget for replacement can become a painful surprise.
The HOA Announces a Large Assessment
This is why buyers should actually review HOA information rather than merely asking "How much is the HOA?"
The monthly fee is only one piece of the association's financial picture.
Your Fourth Bedroom Is a Garage Conversion
Maybe it is legitimate.
Maybe it isn't.
Investigate permits and records when the physical property does not appear to match the official description.
Your Insurance Cost Is Much Higher Than Expected
Get quotes before closing.
Do not assume your friend's insurance cost three streets away predicts yours.
That Empty Desert Becomes Development
A vacant parcel is not a permanent view guarantee.
Research current zoning and available land-use applications.
You Discover a Rental Rule
If you plan to rent the property later, HOA rules can matter enormously.
The Solar Agreement Isn't What You Thought
Solar may be owned, financed, leased, or subject to another agreement.
Understand it before closing.
The Lesson
Due diligence cannot eliminate every future problem.
It can dramatically reduce the number of surprises that were discoverable before you bought.
Important
HELP FIRST: if any of these surprises shows up before closing, tell Lisa immediately. The closer to closing it is discovered, the more important it is to act early while there is still time to investigate, negotiate or, if needed, reconsider.
