Virginia Real Estate Settlement Services

4. Is the amount of taxes paid comparable to other properties in the area? If not, it might be possible to appeal the tax assessment and lower the rate?

3. Will the sale of the property trigger a tax increase? Often the assessed value of the property may increase based on the amount you pay for the property. And in some areas, such as California, taxes may be frozen until resale.

2. How often are properties reassessed and when was the last reassessment done? Generally taxes jump most significantly when a property is reassessed.

1. What is the assessed value of the property? Note that assessed value is generally less than market value. Ask to see a recent copy of the seller’s tax bill to help you determine this information.

How Comprehensive Is Your Home Warranty?

Check your home warranty policy to see which of the following items are covered. Also check to see if the policy covers the full replacement cost of an item.

 Plumbing
 Electrical Systems
 Water Heater
 Furnace
 Heating Ducts
 Water Pump
 Dishwasher
 Stove/Cooktop/Ovens
 Microwave
 Refrigerator
 Washer/Dryer
 Swimming Pool (may be optional)

18. Driveways/Sidewalks: Look for cracks, heaving pavement, crumbling near edges, stains

17. Attic: Look for adequate ventilation, water leaks from roof

16. Septic Tanks (if applicable): Adequate absorption field capacity for the percolation rate in your area and the size of your family

16. Attic: Look for adequate ventilation, water leaks from roof

14. Basement: Look for water leakage, musty smell