This series' previous entry was Home Buying Tips part 1. We suggest starting there.

6. Scrutinize before making an offer

Apart from the structure and features of a house, there are many other things important to a purchase that have to be checked. Following is a brief checklist:

• Check the resale potential of the property. This depends on the development that is happening in the neighborhood, type of home buyers in the neighborhood, features of your home and how much in sync they are with the trends, etc.
• Evaluate contract contingency basics. Home buying contingencies are written clauses in your contract that allow you to back out of the contract with no penalties if contingencies aren't met. The pre-printed contract forms used by real estate agents always include common contingencies like financing, home and other inspections, surveys, sewer and septic systems, etc. Use the pre-printed forms when possible instead of writing your own contingencies, because forms are written to adhere to the laws of the state they are used in.
• Learn facts about modular, manufactured and site-built homes because the differences can affect a home's price and its resale value, and even dictate whether or not it can be built on your land.
• Get familiar with facts about easements and rights-of-way, which basically define whether others have a right to use your property or not.
• Understand the restrictive covenants and other deed restrictions for the real estate you want to buy, because they dictate how you can and cannot use the property. Restrictive covenants are deed restrictions that apply to a group of homes or lots, property that's part of a specific development or subdivision. They are normally put in place by the original developer, and are different for every area of homes.
• Measure and calculate your residential square footage and get it down on paper. Inaccurately reported square footage is the subject of numerous complaints made each year to state real estate commissions. A small percentage of cases involve willful misrepresentation, but a larger number of complaints occur simply because agents and sellers don't know how to measure a home's square footage.
• Get familiar with the heating system in the new home and check if it is efficient or not.

7. Make an offer

There's no one set of instructions that can cover all the differences in real estate laws and customs that exist throughout the United States, so the mechanics of making an offer and its specific contingencies depend greatly on your location. However, following are some home buying questions to ask your real estate agent that can help you fine-tune your offer no matter where you live.