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January 15th, 2011

Do you know your home’s history?



crime sceneShopping for and buying a home is an extremely emotional experience. The long-term commitment that your mortgage presents, coupled with the fact that buyers tend to consider their house their home, a place to raise a family perhaps, makes the investment into a property about more than just numbers and figures. You really want to make sure the house you’re buying is the right one for you.

Part of the completion of this emotional and financial investment is understanding your home’s history. What occurred and who lived in your home before you, could easily make or break your decision of whether or not to buy.

My own story

Take my story for example. I was looking to upgrade to a two-bedroom apartment in order to get some more space (you’d be surprised just how fast two people can outgrow a one-bedroom apartment). I found the perfect two bedroom in my same building — that “man cave” I’ve always been searching for was within my grasp.

Curious about what happened to the previous tenant, I inquired with my landlord who told me that the previously occupant was an older woman who recently passed away at the hospital. Long story short, my landlord lied about the previous tenant being a woman who passed away at the hospital. Turns out, the gentleman — who was actually the previous tenant — passed away in the apartment and wasn’t discovered for days.

Safe to say I’m still living in my cramped one-bedroom apartment.

Buying is a whole different ballgame

When it comes to buying a place of your own (as opposed to renting), it’s a whole different ballgame. HSH.com’s latest article, “Horrible history of a home may be hidden from buyers,” discusses the more grisly histories some homes have and what buyers can do once they find out about them.

The article discusses everything from how disclosure laws vary from state to state, to the recourse homebuyers have, to how to research your current or prospective home’s history.

Be sure to read our article, “Horrible history of a home may be hidden from buyers,” in its entirety.

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About the HSH Blog

HSH.com's daily blog focuses on the latest developments in the mortgage and housing markets. Our mission is to relate how changes in mortgage rates and housing policy, as well as the latest financial news, impacts consumers, homebuyers and industry insiders alike. Our 30-plus years of experience in the mortgage industry gives us an edge as we break down the latest changes in an ever-changing market.

Our bloggers:

Tim Manni

Tim Manni is the Managing Editor of HSH.com and the author of their daily blog, which concentrates on the latest developments in the mortgage and housing markets.

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