Planning to buy a house but are scared of making the wrong move? This is a big decision and requires much research. With a real estate agent by your side, you can be assured that you will end up have the right house.
However, you need to be prepared too so that when the time comes for negotiations, you know what to say to tip the scales in your favor.
Following are five red flags you need to look out for when buying a house:
1. The Price Catches Your Interest but Something is Fishy
Out of all the red flags, the reason why this is at the top of our list is that sometimes, things are too good to be true. You see a listing online and can’t believe your luck that you came across it. The house contains all the features you were looking for: it’s big, in a good neighborhood, and quite close to your office.
You decide to visit the house and have a look at it. Everything seems alright and you place an offer on it. After the home inspection, it’s revealed that the house has too many repairs to count. You will be spending thousands of dollars on the house.
2. The Real Estate Agent You Hired Represents You and the House You Want to Buy
If your Orlando buyer’s agent is also representing the seller, then look for another agent. It’s possible that the agent might not look out for your best interest. Since he is taking a commission from both sides, he will get more from the seller if the house is sold at a high price.
3. The House Has Been on the Market for Quite Some Time
You finally found your dream house and when you approach the seller, you learn that it has been on the market for more than 6 months. You need to take a step back and get some research done on the house before making an offer. It might be nothing or the house might have too many repairs.
Other reasons include that the house is a scam. The person trying to sell the house is not the owner and does not have the property’s deed in his name. This is one of the reasons why you need to hire a Windermere Florida realtor so that the house is inspected through the right channels.
4. The House Has to Many Renovations
Does it feel like that the house does not have uniform renovations? It’s possible that multiple homeowners made changes to the house and chances are, some of them are illegal. Let’s say that the home inspection doesn’t reveal anything. However, this will cause problems in the future during your sale home inspection. If the house is deemed unsafe, then you will have to demolish some of the house areas and rebuild them. You are looking at an extremely high future repair cost that will most likely, bankrupt you.
5. The “Sold As-Is” Tag
Home renovation TV shows are fun to watch. A person buys a house and then flips it into the house of his dreams. In reality, as-is houses are a nightmare. They have too many deep repairs that include the two major areas of the house – plumbing and electrical connection. If the owner states that the house requires only cosmetic repairs then don’t take his word for it. Get some investigation done before placing an offer.
So now you know what seems good on the surface, is actually rotten from the inside. When touring a house, always remember to ask about the important features such as the plumbing, roof, and basement. If you are planning to look into Orlando real estate, then visit the website Megan Dowdy Realty. For further information, call on 407-509-9279.
