Long Beach Island Real Estate Seller’s Disclosure Information
LBI Real Estate Market Seller’s Disclosures and Flood Damage 
LBI Real Estate Market Seller’s Disclosures and Flood Damage 
LBI Real Estate Market Seller’s Disclosures and Flood Damage
Long Beach Island Real Estate
When buying a home in the LBI real estate market, it is imperative that you thoroughly investigate the structure and any potential problem areas. There are no refunds in real estate, so a buyer has to make sure he or she is comfortable with the transaction before it closes. Seller’s disclosures are a good starting point, but they have some severe limitations. For example:
- A seller’s disclosure is not required in the State of New Jersey
- Some sellers are less than honest when filling these important documents out
- A seller may not know the answers to the questions and provide wrong information
By : Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
Click here to search all homes for sale in the Long Beach Island NJ real estate market
LBI Real Estate Market Seller’s Disclosures and Flood Damage
One of the most critical points to check in a seller’s disclosure surrounds flooding. Hurricane Sandy, which impacted Long Beach Island at the end of 2012, caused widespread damage to the area and flooded many homes. In situations where a house was built after Sandy, this is not a concern, but for those homes that existed before Sandy, a full investigation should be made into any damage and repair. Keep in mind that even a newer home that was built on pilings may have sustained damage from flooding in the garage. This could lead to mold problems if not adequately addressed. A seller may not realize what, if any, damage occurred from Hurricane Sandy or any more recent flooding event. The lack of available information is especially conceivable if you, as a buyer, are dealing with an estate situation. It is very likely in these cases that the executor of the estate may not know very much about the home and therefore be unable to answer questions correctly. It is for this reason that a buyer should take all the necessary precautions to ensure their investment is secure. A home inspection is a good starting point, but any areas of concern should be followed up with the proper experts, for example, a mold company.
Buying in the Long Beach Island Real Estate Market
Investing in a home on Long Beach Island is not something to be taken lightly. With the high average price of homes in the LBI real estate market, buyers should do everything they can to make sure they are making the right decision. Checking a home for flood damage, is a crucial step in this process, along with other inspections such as a tank sweep and title searches. If you have any questions about LBI Real Estate Market Seller’s Disclosures and Flood Damage or about buying, selling or investing in the LBI real estate market, please do not hesitate to contact me.
By : Nathan Colmer |LBI Real Estate Agent | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
Click here to search all homes for sale in the Long Beach Island NJ real estate market
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