When you partner with Landed, we work hard to make sure the home you purchase is a great investment so you can build wealth and boost your financial security with every mortgage payment.
Our property review team assesses the home and property to make sure you are positioned to see positive returns from buying the home. We do this by carefully reviewing the property, the location, and all disclosures to identify any issues or risks that could have a negative impact on the property value in the future.
For most Landed homebuyers, especially first-time buyers, reviewing the disclosures and inspection reports can be overwhelming and nerve-wracking (plus very time-consuming). With that in mind, our goal is to highlight any issues (such as deferred maintenance) and provide you with a summary that is informative and easy to understand. We also provide details about the potential financial risk of any identified issues and give you suggestions about how to deal with them so you can make informed decisions.
We review four main disclosures:
1. The home inspection report. When reviewing the home inspection report, we always look very carefully at the major components of the home, which include the structure (foundation/crawl space/attic), roof, electrical system, plumbing, and heating/cooling system. We like to see all major components in a “serviceable condition” (essentially meaning they aren’t on their last legs, damaged, or a safety hazard). The foundation and the roof are usually the most expensive to fix, so we always want to call out any issues there. If the home inspector recommends further inspection of any major components, we may require a licensed specialist/contractor to evaluate it to make sure nothing is missed.
2. Seller’s disclosure (where applicable). The seller's disclosure should highlight any past or present issues and repairs to the property, which are important things for you as a homebuyer to know.
3. Preliminary title report/commitment. We review the title report to check the legal ownership and description of the property, ownership type, deed restrictions, and any liens or outstanding debts against the home. We identify any outstanding issues that need to be dealt with to better ensure there are no surprises.
4. Homeowners’ association (HOA) documents. For properties with an HOA that is responsible for exterior maintenance, we assess the financial condition of the HOA by reviewing its reserve funds, any special assessments (an additional fee from the monthly dues), major repairs that are not in the budget, and any pending litigation that can affect community property values and/or cause an increase in HOA dues.
When you work with Landed, you’ll have a team of pros with decades of experience who are your second pair of eyes. Plus, if you use our down payment program, you’ll have the extra comfort of knowing that we also have a vested interest in making sure your home will grow in value. There’s no need to go it alone and try to understand all the ins-and-outs of homebuying when we can help – just let us know how we can!