More homebuyers are getting a prime opportunity to conduct more due diligence research -- from getting a home inspection to neighborhood environmental screening -- as a way to protect their health and wallets from poor investments.
A housing sales slowdown gives homebuyers more time to look deeply into, under and around their properties, and homebuyers can use the extra time to sidestep common and often costly risks.
According to the nation's leading provider of environmental information reports, Environmental Data Resources Inc., a growing number of homebuyers are following the trend of investigating environmental risks associated with the property and its surrounding area-before closing on a sale.
Environmental due diligence has been a common practice for nearly 20 years in commercial real estate, but a growing number of homebuyers and real estate agents now use home inspectors to gather detailed and accurate environmental information reports to better understand the environmental risks associated with a property and the surrounding neighborhood.
Without a need to rush through sales like homebuyers did in previous "sellers' markets," homebuyers are now able to take time to get important information before purchasing.
This might help when you are talking to your sellers about your market and help them understand the new process in our housing market.