10 Common Homeowner Complaints
Below is a MRR and PLR article in category Business -> subcategory Other.
10 Common Homeowner Complaints
Owning a home is a dream for many, but it can turn into a nightmare if you're not careful. Here are ten common issues every homeowner should be aware of and how to avoid them.
1. Real Estate Fraud
If someone forges your signature on a grant deed, your property could unwittingly belong to a stranger. In such cases, immediately contact your state's real estate commission.
2. Unlicensed Contractors
Hiring unlicensed contractors can lead to unfinished work and legal complications, such as a mechanic's lien against your home. Always verify a contractor's license before hiring.
3. Foreclosure Scams
Getting behind on payments can attract scammers promising to save your home. Instead, they might sell your property without resolving your issues. If you're struggling with payments, contact your mortgage company directly to discuss a payment plan.
4. High-Interest Loans
You might think you're getting a good refinance deal, but hidden fees and high interest rates can catch you off guard. Always shop around for the best rates and thoroughly read the loan terms before committing.
5. Loan Misrepresentation
Promises of fixed-rate loans that morph into higher rates can be shocking. Ensure you review all documents and understand interest rates before signing.
6. Account and Billing Mistakes
Mortgage companies sometimes fail to credit your payments correctly. Request a detailed payment history from your lender, including your account number in your correspondences.
7. Unpermitted Rooms
Discovering rooms added without proper permits can result in the need for costly changes. Always verify that a home complies with building codes before purchasing.
8. Unfinished Repairs and Escrow
Don't trust verbal promises for repairs from sellers. Ensure all repairs are completed before you close escrow to avoid long and frustrating delays.
9. Unpaid Property Taxes
Your mortgage company might neglect to pay your property taxes, leaving you with penalties. Contact them for an explanation, and if unresolved, reach out to your state real estate commission.
10. Issues with Vacant Land
Buying land without ensuring utility access can be disastrous. Verify the availability of water, sewers, electricity, and phone service with the local Building and Safety Department before purchasing.
Final Thoughts
Purchasing property is often one of the biggest investments you'll make. Take your time, read all documents thoroughly, and ask questions if you're unsure. Consider hiring a real estate attorney to safeguard your interests.
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