Yes, it's a buyer's market right now - a fantastic time to buy, whether it's your first home or an investment property. But for every eager buyer, there's a seller doing his/her best to make their property tops on your list. If you're buying new construction - great! You should be in good shape! But if you're looking for a home with history, it's up to you to do your homework before you buy! Check out frontdoor.com's top ten red-flag items before you sign on the dotted line!
1- Mass exodus from the neighborhood - more than a few "for sale" signs and empty storefronts? Maybe it's best to move on...
2- Mediocre Maintenance - if the most visible parts of the house - like the roof and exterior - are in obvious need of repair, just imagine what you're not seeing...
3- Foundation Failures - problems with the grade of the yard and a faulty foundation can cost big bucks in repairs down the road.
4- Bad Smells - Every scent has a source. If the home you're looking at is filled with odors, find out where it's coming from...and why.
5- Faulty or Old Wiring - Try out the lights as you walk through the house. If they flicker or don't work, you could have bigger problems than dead light bulbs.
6- Fresh Paint...On One Wall - Just like the rest of us, home sellers are trying to make their place look perfect - and sometimes that means a fresh coat of paint to hide stains and water damage. Find out what's behind the one-wall makeover!
7- Locked Doors and Blockades - If you're buying a house, you're buying all of it - so you should get to see all of it!
8- Foggy or Non-Functioning Windows - Windows are meant to open and close, keep out the cold or heat and allow you to see what's outside your house. If the window you're looking at isn't fulfilling one of these functions, better find out why.
9- Structural Walls or Floors Have Been Removed - An open floor plan is great, but if you're looking at an older house, you might want to ask if it's been renovated. Removing beams and walls that are load-bearing can mean major problems...
10- Bugs! - I think this one speaks for itself...eeewww.
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