This is a topic that I’ve been struggling to try and write about, because it is simply over my head. Actually, it’s probably over many people’s heads. However, I FINALLY found an article over at Blueprint for Financial Prosperity that will help explain everything. You can take a look at that article [here]. In addition, they are keeping the article up to date as things progress.
One item that I did note is that the bill has now passed. Included in the bill was an increase of the FDIC’s deposit insurance from $100,000 to $250,000, which I had mentioned the proposal for in a previous article.
You’ve been working with your real estate agent, your lender, and your lawyer and you have finally found the perfect home. The pieces of the puzzle are all falling in to place. Everything is ready to move forward… right?
The City of Buffalo has provided a “Prospective Buyer’s Fact Sheet” which covers 6 things you should do before you commit to a property purchase. While published by the City of Buffalo, these are things that you should check no matter your geographic location. These are checks that aren’t necessarily required prior to a sale, but could cause headaches after you take posession and discover them. You could end up wasting time and money, and not be able to live in your home!
1. Make sure the district’s zoning would permit your proposed use / occupancy.
2. Find out the current legal use(s) at the property.
3. Find out what it would take to legally create your proposed use / occupancy at the property.
4. Find out what requirements coming from the state building codes apply to your project.
5. Find out if any illegal changes have been make to the property.
6. Find out the environmental history of the property and your environmental responsibilities assumed upon obtaining ownership and developing your property.
In Buffalo, this information can be obtained in the Zoning and Permits offices. In other areas, you can be directed to the proper office by calling the main switchboard at your city or town hall.
This is a topic that I’ve been struggling to try and write about, because it is simply over my head. Actually, it’s probably over many people’s heads. However, I FINALLY found an article over at Blueprint for Financial Prosperity that will help explain everything. You can take a look at that article [here]. In addition, they are keeping the article up to date as things progress.
