How to Read the MLS Property Report—A Guide for Charlotte NC Home Buyers (Part 6)
If you are a Charlotte NC home buyer, you will want to understand the wealth of information you can get from the Multiple Listing Service (MLS) property reports that your real estate agent gives you. This guide will lead you through a property report and make you a better-informed home buyer.
Part 1 covered the basic property information found at the top of the report. Part 2 addressed what you should know and what you should investigate if the report indicates that the property is subject to a Home Owners Association (HOA). Square footage, including heated area and unheated area, was covered in Part 3. Part 4 described how you can determine what type of rooms the home has and how some of these rooms, such as bedrooms, are defined in the Charlotte marketplace. The type of information that the report gives about the features of the home or description of the home was the topic of Part 5.
How to Read the MLS Property Report—A Guide for Charlotte NC Home Buyers (Part 1)
How to Read the MLS Property Report—A Guide for Charlotte NC Home Buyers (Part 2)
How to Read the MLS Property Report—A Guide for Charlotte NC Home Buyers (Part 3)
How to Read the MLS Property Report—A Guide for Charlotte NC Home Buyers (Part 4)
How to Read the MLS Property Report—A Guide for Charlotte NC Home Buyers (Part 5)
One of the most important pieces of information to know about the property you are purchasing is what utilities serve the property. What kind of heating and cooling system does it have? Does it have access to public water and sewer?
The Utilities section gives this information near the bottom of the report. Water/sewer is the first item. The options here are city or county water and sewer, community water and sewer, and well and septic. City/county water and sewer is provided by the local municipality or county. In Charlotte, CMUD or the Charlotte-Mecklenburg Utility Department provides water and sewer services. In Union County, Union County Public Works provides service for most of the county where available. Monroe has a utility department for city residents.
What is the difference between community water and sewer and city water and sewer? A community system is usually run by a private utility. Sometimes the water can be from the same source as the public utility. Other times, it can be a community well serving one or more neighborhoods. Sometimes former privately-run community systems have been taken over by a public utility that continues to run them. It is a good idea to ask the seller of the property about monthly utility costs. Private utilities often charge more than the public utilities.
If the property has a septic system or on-site sewage disposal system, you will want to get a copy of the original permit to see where the drain field is and how many bedrooms the system was approved for. You’ll also want to determine what type of septic system it is. Is it a conventional gravity system or is it a low-pressure system with a pump. A low-pressure system may mean that you will have to have a maintenance contract for yearly or twice-yearly service on the system.
The Utilities Section will also tell you whether the water heater is gas or electric and whether the house has central air. The type of heating and cooling system, such as gas furnace or heat pump, is also noted as well as whether the house has more than one zone of heating and cooling.
Want to know more about buying and selling real estate in Charlotte NC? Visit www.CarolinaSmallTownLiving.com.
Copyright 2011. Carol Fox. Allen Tate Realtors. *How to Read the MLS Property Report—A Guide for Charlotte NC Home Buyers (Part 6)*
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