May 3, 2019
Home sellers don’t always give you the full details of the property they are trying to sell. It is unfortunate that if you were to hire a professional inspector for each viewing, it would get incredibly expensive. So, here are some red flags that you can look out for that could tell you to avoid the property.
Firstly, always look at the neighborhood. Does it look like everybody is leaving? Speak to others in the street and ask them about the community. Have a look at how the land is shaped. If the land slopes downwards towards the property, there is a chance that the foundations have been or will be damaged by flowing rain water. Use your nose: bad smells in or out the property are a bad sign. Bugs and insects are a bad sign as well. If there have been bugs or insects, people in the street are likely to know about it, so ask them.
The second key factor to look into is for you to figure out whether you are looking at a foreclosure or short sale property. Although it is true that these are the cheapest properties, they are also often in poor condition and in bad neighborhoods.
The reality is that you are the only one who can decide whether or not to buy a property. Additionally, if you find that there are certain problems, you could use this as a negotiating point to drive the price down. However, you must also be very careful that you aren’t buying into a money pit, or a property that you will never be able to sell again. Homes, whether purchased as an investment or not, are places for people to live in, which means they have to be inhabitable. It goes without saying that checking the condition of the property itself is very important, but the area it is in must be focused on as well. A property inspector is all you really need in order to look into the condition of the actual property after all. In terms of checking out a neighborhood, there is no data available to do this right, only your own personal feelings.