Jeff’s Carlsbad Blog for First Time Home Buyers


Is a Home Screaming…”No, Don’t Buy Me?”

Posted in Due Diligence,House Hunting,Inspections,What do I Buy? by Jeff Dowler on May 14, 2007

for-sale-signs.jpgHave you seen any homes in your house hunting that seem to be screaming at you “No, don’t buy me?”

 

Well, you probably will. These are the homes where it pays to be particularly careful if you are considering buying them. So what are the red flags?

 

  • Poorly maintained – broken windows, peeling paint, rusted gutters, overgrown yard, broken tiles (counters, floors), holes in the wall, and so on. The problem here is you may not notice everything, and a home that appears to have deferred maintenance issues can end up costing you a lot of money
  • Being sold AS IS – depending on condition, this may or may not be a problem. But you will want to do a thorough inspection so you know what defects and repairs you are purchasing for the money, and to get an idea of what it will cost to bring it up to your desired condition (or make it livable).
  • Overpriced – no matter what the reason (unreasonable seller, owner NEEDS to get a certain amount of money out of the home) this is risky if the asking price is well beyond the market value. You may be able to negotiate, but you may not. You don’t want to overpay  based on comparable properties.
  • Clutter Everywhere – this, by itself, may not be a problem. Some folks just have lots of stuff. But the risk is that clutter may hide defects and needed repairs, and in some cases suggests deferred maintenance.

There are certainly other issues that you need to consider…unrepresented sellers, short sales, pre-foreclosures, foreclosures…but these are the main thoughts I suggest you keep in mind. Know what you are buying BEFORE you buy it!

 

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