those crafty sellers, disguising the deferred maintenance of their homes! We’re
not saying they’ll lie, but if they can get away with selling the
house and not having to spend thousands of dollars on a moldy
basement re-do? Well, it’s hard to blame them: they want to make the most of
their home investment, too. When buying a home,
keep a keen eye peeled as you asses the potential of your new house, and
hopefully you can avoid the costly mistake of buying a place that needs a
lot of pricey repairs soon after closing. Or at least, gain some leverage in
negotiating costs and/or required fixes, so you aren’t stuck with a new
mortgage—and new repairs. Here are some tell-tale signs to look for when buying a
home: * Signs of Deferred Maintenance
How do you discover the true condition of a sale home? Use all your senses.
Look at the walls: cracks can indicate a shifting
foundation. Signs of water damage, like peeling ceilings, can
indicate the need for roof repairs. New paint on a single wall could hiding
mildew, mold or water damage. *
Smell the basement. Do you detect a hint of mustiness? This could signify mold.
Touch the electrical faceplates—are they warm? Is that an odd shadow on a wall?
Or a bump that means a shoddy repair?
Ask yourself these questions too: * Does the masonry have visible
cracks or crumbles? * Are there broken fixtures? * Are there any barricaded spaces in
attics, basements or corners of rooms? * How do the electrical outlets and
vents look? *
Do the doors and windows open and close as they should—with no sticking, uneven
corners or drafts?
Get Help From a Home InspectorWhen Buying a Home. Thankfully,
you’re not alone in determining the conditions
of prospective homes. Home
inspections become crucial here, as they locate red flags. A
qualified home inspector is trained to spot structural and system problems that
layman won’t notice. They can advise on potential repairs. They’ll check the
reliability of your heating and ventilation system, and they also can spot
foundation problems your untrained eye may skip. Your reliance upon the
expertise of the home inspector allows you to mount a little offensive when
buying a home. You can use the defects described in an inspection report as an
effective negotiating tool to get a better price with the seller. The lender’s
appraiser may also have some thoughts. While they are tasked with ensuring the
lender is making a good investment, they may also spot some issues. A new
rule gives buyers the right to see the appraisal,
which could note issues with the house. Look Closely at the NeighborhoodWhen Buying a Home. You
are buying into a neighborhood as well as into a home. Check red flags in the
area, too. Abandoned and boarded-up buildings or excessive amounts of
garbage and graffiti are obviously not good signs. Is there local industry in
the form of factories or business parks? Do neighbors park on the streets or in
garages? Are cars and debris filling adjacent yards? In other words, do people
take pride and care in their community? And are there signs of stability and
growth? Of course, you may also see the good
signs: senior citizens walking, children playing, clean school
yards, parks, convenient shopping, places of worship and a public library.
You know what you want
in a neighborhood. Make sure you see it. Resolving Repair Issues When
Buying a HomeIf you do
find red flags, they may not tank the deal, as long as you bring them
up. A good REALTOR® can
help you with this. Major issues—like plumbing, electrical wiring problems or
structural concerns—could push a motivated seller to agree to fix the problems
or lower the price of the home. Because if one buyers spots them, another one
might, too. If the neighborhood, the home layout and the price all seem
right, it might be worth trying to push the seller to mitigate those flags. And
once they’ve finished, you’ll have the home you’ve always dreamed
about right in front of you.
Author:Brandi Chapman Phone: 281-682-6069 Dated: September 17th 2014 Views: 520 About Brandi: Whether you are buying or selling, Brandi understands the process can often be challenging and compl...