Whether you’re looking at new penthouses, lofts, or condos for sale in Gaslamp, you need to be vigilant about securing the property you want and staying away from problems that could lead to buyer’s regret. Avoid the following potential home buying horror stories and save yourself some headaches.
1. Horrible Neighbors
When you purchase a condo, loft, or penthouse, having a good idea about neighbors in the building can help you prevent many potential problems. This is because you may find yourself right down the hall from an annoying neighbor rather than one who lives down the street.
2. Useless Board or HOA
Make sure the board or HOA is a good fit for you and your ideals. Ask current tenants if they feel the board or HOA is fair and does its job well. You don’t want to end up with a neglectful or arbitrary HOA.
3. Sudden Special Assessment Fees
Daunting though it may be, you’ll want to review over all the papers you’re given in escrow. It’s not uncommon to be slapped with an unexpected fee mere days or weeks after your purchase. Oftentimes the minutes for HOAs or boards are given in the documentation you receive, and reading them over allows you to better prepare for otherwise unexpected fees.
4. No Designated Parking Spot
Though usually not a problem, you should make sure you not only have a designated parking spot, but that there are no restrictions on said spot. Some buildings require you only have a compact car, which is something you should be aware of before you buy.
5. Failed Closing
An unbelievable amount of deals don’t go as planned due to mortgage companies. Whether they delay closing by days or weeks or they get the wrong paperwork and deals fall through, they’re to blame for too many botched closings. Choose a mortgage company with a good reputation, and ask your realtor if there are any companies he or she prefers working with.
Don’t make these awful mistakes when hunting for Gaslamp real estate for sale. Let the real estate experts at 92101 Urban Living help. Call 619-649-0368 and start your search for your dream home while avoiding your nightmare home. ')}