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Learning More About Real Estate

After finally saving up enough money to use as a down payment, I decided that it was time to hit the market. I met with a lender, got pre-approved for a loan, and then started visiting different properties. However, I quickly realized that I didn't know as much about real estate as I would have hoped. I wanted to find a great neighborhood and know what to ask the professionals, but I could tell that I needed a little help. To point me in the right direction, I started working with a great real estate agent who was familiar with the area. This blog is all about educating the general public on real estate matters.


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Learning More About Real Estate

Looking at Homes for Sale? Avoid Buying a Lemon by Watching for These Condition Issues

by Nathan Olson

For most prospective home buyers today, the purchase of a home is likely to be the largest financial investment they will make in their lifetime. Surprisingly, however, most may also decide to move forward with this hefty purchase after spending just a few short minutes viewing a home. This can make it easy to overlook important flaws or condition issues in the home's construction or design.

Luckily, there are a few easily recognized issues that prospective buyers can learn to watch for to help them avoid buying a home they later regret.

Learn to be alert for signs of moisture

The presence of moisture or excess humidity in any home you are viewing should be taken seriously due to potential damage to the structure and the possibility of hidden mold in the home. Some signs of excess moisture include, drip marks on walls, windows that appear cloudy or hazy, ceiling stains, and odd smells in the home.

Note the appearance of electrical sockets, switches, and fuse panels

Electrical issues are more difficult to observe when viewing a home due to the fact that much of the electrical system is contained within walls or ceilings. By looking at the outlets, switches, and electrical panel, however, it is possible to get some idea of whether the home's wiring is safe and adequate.Some signs of potential electrical issues to watch for when looking at a home include an outdated or maxed out electrical panel, burn marks or discoloration on wall sockets, and the presence of too many electrical cords in use throughout the home.

Be alert for clues of structural deficiencies

Structural issues are one of the most expensive home repair issues that homeowners can face. Foundational support systems that are weakened or failing can soon become incapable of holding the weight of the home and its furnishings and will begin to sag or even collapse, doing great damage to the home. Some signs of structural deficiencies buyers can watch for include sloping or uneven floors, noticeable cracks or crevices in drywall, basement walls, and ceilings, and windows and doors that do not fit their openings or operate properly.

In addition to carefully watching for and noting the potential condition issues noted above, buyers should also insist on having access to as much documentation as possible about the home. Seller's disclosures, past building permits, and past sales and listing data can all be helpful when looking for clues about the actual condition of the home. Once the selection of the home is made, buyers should also ask their real estate professional to utilize all pertinent inspection contingencies when making any purchase offer, including home, pest, and water quality inspections.

When looking for a home for sale, be sure to work with a reliable real estate agent to help you pick out the good ones from the lemons.