8 Things Home Buyers Must Notice to Avoid Buying a Lemon
There are wonderful homes available for home buyers to buy and there are some real duds. Many homeowners want to sell their home because they are not up to the task of renovating or fixing problems that the home has. This means that home buyers have to be wary that a homeowner is not downplaying a problem to get rid of the house.
With this in mind, home buyers will want to look out for these eight areas that can cause a new homeowner major problems.
The Roof
When talking about the roof the homeowner should be able to say when it was last replaced and tell about any damage it has. If they seem to be holding back on the details or advertise the problems as small, it is likely a bigger issue.
Any damage on the ceiling from a leaking roof should be check and the roof needs to be inspected to see if it is structurally sound.
An Unstable Structure
The structure of the house is the most important component. A bad structure can lead to many problems throughout the house. It can also be expensive to fix.
Check out the structure extensively to make sure there are no hidden problems. A weakening or damaged structure is often more work than it is worth to fix.
Ways Around Talking About Problems
One way for home sellers to avoid talking about an issue is to mark items on their disclosure statement as “no representation.” This means that they are choosing to not disclose what they know about that area to home buyers and they do not have to if it is marked as such.
Take Disclosures Seriously
When a homeowner is telling home buyers about problems in a house it sometimes goes over their head. Once people start talking about previous problems in the years past, some home buyers tune out. Pay attention to words like fire damage, flood damage, or other major problems. If there has been a history of issues in the area, it could happen again.
Previous Liens
Not everything follows the homeowner to their next house. If there are liens on the house and they are not cleared, the new owners may now owe more money.
Check if there are liens on the property by performing a title search. There are often liens on a property in error. In this situation, the owner can take care of the problem.
However, known liens are another issue altogether and may take a long time to get cleared.
Dreaming of Renovations?
The reason people want to own their home is to renovate and make it their own. However, there are situations which can restrict what a homeowner does with their properties.
Adding in any buildings or structures outside will need permits. Many times these permits are denied due to restrictions on the land or easements.
Check if there are problems with renovations before buying the house.
Do-It-Yourself Homeowners
Homeowners who are looking to sell often want to save as much money as possible on home repairs. They do not want to sink a lot of money into a home that they will not be living in. This can lead them to tackle projects that are out of their knowledge base.
Check that all major projects have the proper permits. This helps to ensure they were completed correctly and will not fail down the road.
Older Home Problems
The problem with older homes is that they can contain lead paint or even asbestos. While this is at the top of many buyers’ list to avoid, the problem is not as serious as one may think. There are ways to safely deal with these situations. If the situation is known, home buyers can have lead paint or asbestos removed and then have the home tested to ensure their safety.
Do not walk into a home and fall in love with it at face value. There are many problems that homeowners want to cover up to trick a buyer into not noticing. Fresh paint, new appliances, and nice carpet can often distract a first-time buyer into not looking at the cracking foundation, leaking roof, or other problems that should be taken care of.