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Lake Oswego Real Estate Due Diligence

In the mid-70s when I first started selling real estate, the only inspection available for a buyer was a termite/dry rot inspection. In all the years after that and since, I have only sold two houses that have actually had termites, although many homes have had and still have dry rot.

PortlandRadonZIPCodeMap

Unfortunately, many of the cities and counties also did not keep records at that time. There were no well reports or Well Master, water potability samples weren’t taken, radon hot spots weren’t even on our radar, there were no landslide reports, FEMA flood zone maps weren’t available, no floor plans were on file, zoning and zoning maps were not available, cities didn’t keep permit records, there was no DEQ to decommission oil tanks or records kept, lead base paint wasn’t an issue at that time, and there were no soil samples taken etc. not to mention all the other issues that come with buying a home. There was really no where to go and get any information about anything.

What Is Due Diligence?

One of the many ways to protect yourself against purchasing a home with any major defects, is the opportunity for you to perform your due diligence within the inspection time period.

What is due diligence? After your offer has been accepted by a seller, you may order inspections, research permits and zoning, obtain hazard insurance and investigate environmental or any other factors that may affect the property.  Licensed contractors perform a home inspection, alerting you to any potential problems, but you may also need further inspections by licensed and bonded specialists for specific inspections.

Types of Home Inspections During Your Due Diligence Time Period

In addition to a full home inspection, a buyer has the opportunity to have other specialty contractors perform some of these specific inspections:

  • asbestos
  • electrical
  • exterior siding
  • fireplace/chimney
  • Heating/Cooling
  • Land Survey
  • Mold/Mildew
  • Pest/Dry Rot
  • Plumbing
  • Radon
  • Roof
  • Structural
  • Toxic/Hazardous Substances
  • Underground sprinklers
  • Underground storage tank
  • Sewer Scope
  • Well test
  • Septic/Sewage System
  • Water Potability

At the end of the due-diligence period, a homebuyer has several options.  A buyer can negotiate with the seller for necessary repairs or credits for work to be done, accept the property in its present condition or cancel the sale.

In A Hot Housing Market

Many buyers are certainly educated about the specific inspections that can be performed.  However, the reason I am writing this post to begin with is because of my concern that in this “hot” housing market we are experiencing in the Portland metro real estate areas, some buyers in their efforts to “get that house”, are waiving their right to have home inspections.  I never suggest to my buyers they do that.  In fact, some of my buyers have lost out on houses because they did not waive their right to have any/all home inspections available and miss out on their chance to perform their due diligence.

I am concerned about those buyers who have waived that right in this real estate market, who may down the road find major issues that far outweigh the price or rush to get their offers accepted.

Exercise your right to conduct home inspections. It is extremely important you perform your due diligence.

Search For Real Estate

I have a new search site available to find Portland metro and all outlying properties for sale.  You can view RMLS™ information here. My website is also available.

Thinking of Selling Your Lake Oswego Home?

Prices are increasing at a fast pace in Lake Oswego. Interest rates are still low and there is a huge pool of buyer demand. I have ready, willing and able buyers ready to purchase your home. If you want to know the value of your home in today’s real estate market, please call me at 503-804-9685.

Moving to Lake Oswego?

Want to know more about Lake Oswego? I’d love to be your buyer’s agent, please give me a call at 503-804-9685.

I have worked in Lake Oswego as a Real Estate Broker since 1975 and have lived in Lake Oswego since 1988 and know all the neighborhoods! The real estate market is “hot” here in the Portland metro area and Lake Oswego. I am ready to assist you with all your real estate needs! “There is no substitute for experience.”

ALL ABOUT…..Lake Oswego Real Estate. Copyright 2008-2016. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

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Lake Oswego Real Estate New Radon “Hot” Spots

January is National Radon Action Month and there is new research that shows radon gas is popping up in some surprising places. You can’t see it, taste it or smell it, but radon exists in roughly one out of every four Portland-area homes. And it can be deadly.

 https://lakeoswegorealestateblog.wordpress.com/2016/01/26/lake-oswego-real…-radon-hot-spots/

What is Radon?

Radon is the number two cause of lung cancer, after smoking, in the United States responsible for approximately 21,000 lung cancer deaths every year. EPA estimates roughly 18,000 of them are smokers, and whose risks are amplified by radon exposure. About 3,000 people who never smoked die annually from radon exposure.

Radon Zip Codes

Here is a summary table of each city, by zip code, in Oregon with their level of radon.

For More Information About Radon: Radon information 

New Radon “Hot Spots” In Portland

New data shows areas previously thought to have low radon levels may actually have dangerously high levels and have been identified as seven new areas as radon “hot” spots.

Those new areas are Boring, Columbia City, Parkdale, Scappoose, Banks, Dundee, North Plains and La Grande.

Testing for Radon

Testing is cheap and easy.  If you do have a high radon problem, it is something that can be taken care of, and you should invest in a system to get rid of it.

Search For Real Estate

You can use this phone app to search for the home of your dreams either on your cell phone or tablet – http://app.summarealty.com/SMAFZ

My new website is also available and you can search for Lake Oswego real estate or any homes for sale in the metro PDX area or surrounding communities – http://www.summalakeoswego.com/realtor-betty-jung

Thinking of Selling Your Lake Oswego Home?

Prices are increasing at a fast pace in Lake Oswego. Interest rates are still low and there is a huge pool of buyer demand. I have ready, willing and able buyers ready to purchase your home. If you want to know the value of your home in today’s real estate market, please call me at 503-804-9685.

Moving to Lake Oswego?

Want to know more about Lake Oswego? I’d love to be your buyer’s agent, please give me a call at 503-804-9685.

I have worked in Lake Oswego as a Real Estate Broker since 1975 and have lived in Lake Oswego since 1988 and know all the neighborhoods! The real estate market is “hot” here in the Portland metro area and Lake Oswego. I am ready to assist you with all your real estate needs!

“There is no substitute for experience.”

ALL ABOUT…..Lake Oswego Real Estate. Copyright 2008-2016. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is in violation of federal copyright laws

 

Lake Oswego Real Estate Septic SystemsLake Oswego Real Estate Septic Systems.lakeoswegorealestateblog.wordpress.com

There have been sink holes, collapsed cesspools and problems with septic systems in our Portland real estate market. Lake Oswego also has areas with homes that have septic tanks.

Lake Oswego Building Permit And Septic Tanks

If you are building a new home it will require getting a Lake Oswego building permit.  The process is not terribly complicated. A survey of the location and an outline depicting the placement of the structure is needed. Prior to putting in a septic system at a location that is connected to city water but not city sewer, a perk test must be submitted. A perk test evaluates the amount of time needed for dissolution of water into the soil of the property. The test result aids in determining the proper place to put the septic system.

If you have a question about whether you are currently connected to the City sewer or a septic tank, the City of Lake Oswego is able to check their records for you. If they are unable to find a record, they can perform a dye or smoke test for verification. Call the Wastewater Department at (503) 635-0280 to arrange an appointment.

This service can only be requested by the homeowner. All other parties requesting a dye or smoke test will be charged a fee of $60.00 per transaction.

If you are currently on a septic tank and would like to speak with someone about connecting to the City’s Wastewater Collection System, please contact Todd Knepper, Planning Services Division – Engineering Department, at (503) 675-2534.

Changes In Oregon Law Regarding Septic Tanks

Septic systems can effectively treat household sewage for a long time if they are properly maintained and operated. However, you may not be aware that there have been some recent updates to Oregon’s septic system regulations that affect our entire state and not just the Portland or Lake Oswego real estate markets.

  • Owners of sand filtration septic systems installed after January 1, 2014, are now required to maintain a service contract with a certified on-site wastewater maintenance provider, and are required to inspect their sand filter system at least once a year. A report of the inspection findings must be submitted to DEQ with all required fees. A service contract, along with manual inspections and reports, are also required for alternative treatment technology systems.
  • Mandatory inspections of septic systems are no longer required when a home is bought or sold but the DEQ highly recommends an inspection prior to transferring title.

You can access the entire on-site wastewater treatment system rule here (OAR 340, divisions 071 and 073). In addition, each city or county have their own special requirements requiring installation of septic systems.

Information About Septic Systems

The owner of a septic system is 100% responsible for the operation and maintenance of their septic system.  If you currently own a septic system, or are thinking about buying a home with a septic system, there is plenty of  information available.  By taking advantage of this information, you can avoid thousands of dollars in expensive system repairs or a system replacement.

The State of Oregon has lots of information at their site regarding maintenance, inspection, repair, etc. of septic systems.  For a list of septic system inspectors in your area, you can find that information on the State’s website.

Thinking of Selling Your Lake Oswego Home?

Prices are increasing at a fast pace in Lake Oswego. Interest rates are still low and there is a huge pool of buyer demand. I have ready, willing and able buyers ready to purchase your home. If you want to know the value of your home in today’s real estate market, please call me at 503-804-9685.

Moving to Lake Oswego?

Want to know more about Lake Oswego? I’d love to be your buyer’s agent, please give me a call at 503-804-9685.

I have worked in Lake Oswego as a Real Estate Broker since 1975 and have lived in Lake Oswego since 1988 and know all the neighborhoods! The real estate market is “hot” here in the Portland metro area and Lake Oswego. I am ready to assist you with all your real estate needs! “There is no substitute for experience.”

ALL ABOUT…..Lake Oswego Real Estate. Copyright 2008-2016. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

Contact Betty Jung

Betty Jung, Broker
REALTOR®
CRS, GRI, ABR, SRES, CNHSS

Summa Pacific Cascade
4949 Meadows Rd. #100
Lake Oswego, Oregon 97035

Licensed in the State of Oregon

503-804-9685 Cell

or email:betty@bettyjung.com

"Selling Real Estate Since 1978. There Is No Substitute For Experience!"

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