It makes you feel very bad when you realize that your dream property is not as good as you thought for the first time. And more importantly, if you find out later that your home needs several thousand dollars in repairing it some portions, you will feel completely disheartened.
You should get a thorough inspection done before buying a house. Using some common sense while buying a property will help you in avoiding many common mistakes. There are some things that you should be always wary of. Here are a few warning signs that should be kept in mind before you sign the contract.
Problems inside the house : There may be some internal problems inside the house that can be easily identified, such as termites, damp spots, and cracks in the walls and ceilings. But there may be some other major problems that are often not disclosed by the seller. For example, if there is a cracked tile in the bathroom, it will indicate water damage, if there is any mould, it may be due to ventilation problem. If there is any brown areas, it may be due to poor wiring connection. Therefore, it is important to get your house properly inspected before buying it. You must also check out other things like water pressure, sticking windows, pipe and drain leaks, insulation levels, and get pest control done. Write down all these points in your check list and get your house reviewed by a professional.
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Problems outside the house : Likewise, there may be some problems outside the house as well and in many cases, the seller does not want to mention these points to the overexcited buyer. One crucial element is orientation. If you are working from home and that area is receiving very less natural light, you may want to reconsider. You can also check out the fuse box, signs of the asbestos, blocked drains, roof damage, garden watering systems, condition and age of nearby trees, and pollution levels. After doing the initial assessment, you can ask a professional to review it thoroughly.
Incomplete documents : There are always chances of your identity getting stolen. If you buy your valuable property without necessary documentation, it will be the most dangerous situation to go through, not only financially, but legally and emotionally as well. Never make such a mistake in your life. You can avoid such situations by hiring a solicitor who can be of great help during your purchase. It is worth spending some money on a solicitor rather than paying for the losses in the later stage due to lack of proper documentation.
Shady property history : Before buying a property, you should always inquire about its details, like when was it first built? What was on the land before the property was built? Why the tenants keep changing. If you get the answers to these questions and are satisfactory at your level, then you can move ahead. But if you are not satisfied, then it is better to pass. Because the seller may be trying to cover the shady past history of the property.
Unprofessional seller : The seller or the real estate agency should be able to answer to your basic questions about the house. If you are not convinced by their answer, you can always shop for the next one. If the property has a bad history, and the seller is trying to hide it, then it is better to leave that one and search for another good property.
This entry was posted on Monday, November 7th, 2016 at 5:44 pm and is filed under Mortgage, Property, Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.