Not all home sellers are completely truthful about the condition of their property. Sadly, most of us cannot afford hiring a professional inspector for each property that we view. Therefore, here are some things that are obvious even to a novice which can tell you not to buy the home.
Start by checking out the neighborhood. Is the number of homes and businesses dwindling? Speak to others in the street and ask them about the community. Also check out the land. Foundations could be damaged by rain water if the yard slopes downwards to the property. If you notice any bad smells, there is generally something amiss. Bugs and insects are a bad sign as well. If there have been bugs or insects, people in the street are likely to know about it, so ask them.
There are also a number of things that can cause a lot of damage to a property that are almost irreparable. A few of the things you need to look for are signs of water damage, pest damage, asbestos, mold and faulty wiring. But it often takes a professional eye to actually spot these problems. It is possible that the present owners do not even know that these issues are there. Those home owners that do know the issues are there will try to keep them hidden. It is incredibly easy to hide these significant issues through simple things such as cleaning and switching the power off. In order to find out whether these issues are present, you will need a professional home inspection; but you can also speak to community members. They will be happy to tell you about any historical issues that have occurred in the area. It is safe to say that most major problems like pests, water damage and mold will occur in more than one home.
Basically, you should not purchase a property that has not gone through a professional inspection. However, the hints and tips above should tell you whether or not it is worth investing in an inspection at all. If any problems are present, you can choose to walk away from the property, or you can request a huge discount on the purchase price so you can arrange the necessary repairs. Also, always trust the advice of home inspectors. The goal of professional home inspectors is to make sure that you can truly get your dream home, and not some sort of money pit disaster.
Buying a house is supposed to be a fun and exciting time. However, because we are eager to make the purchase, we sometimes fail to notice see the various defects of a property. Although we do sometimes fall in love with a property, we should never purchase it without running a few necessary checks. Let’s review a number of these red flags.
First and foremost, think hard before you buy a “fixer up.” It is certainly true that these properties seem very interesting because they are so affordable. Many times, we believe that we can fix the problems ourselves. The truth is that most of these things can only be fixed by qualified professionals. Unfortunately, these professionals cost a lot of money, often more than you may have budgeted for. Next, you must be careful with properties that have modifications made that are clearly DIY. Although a DIY job can look great on the surface, it is likely that it actually has a whole lot of problems.
A number of things may also have happened to a property that are very hard to restore. A few of the things you need to look for are signs of water damage, pest damage, asbestos, mold and faulty wiring. Unfortunately, it can be very difficult to spot any of these problems. The current owners themselves may not be aware of the presence of these problems. If they do know any of these problems are present, they may do all they can to keep them hidden. All that needs to be done in order to hide problems like this is a bit of cleaning and reducing power usage. In order to find out whether these issues are present, you will need a professional home inspection; but you can also speak to community members. They will be happy to tell you about any historical issues that have occurred in the area. Usually, problems like pests, water damage and mold don’t occur in just one home.
The reality is that you are the only one who can decide whether or not to buy a property. It is also true that if you are looking for a true bargain, then a house with problems is what you are looking for. However, if you find you have purchased a true money pit property, or that it is impossible to sell it at a later date, then is it really worth it? A home is a place where someone, either you or a tenant, will have to live and this means it does have to be an enjoyable property to seem extent. Although it is certainly true that you should look into the condition of the actual property, focusing on the neighborhood is equally important. All you really have to do in order to find out whether the property itself is any good is hire a property inspector. When it comes to the neighborhood, however, you need to have a personal feel, something that cannot be achieved by a check box list.
If you are like most people, then the most substantial asset you have is your home. Hence, if you want to sell this asset, you have some important decisions to make. Spend some time looking into the process of selling properties first. Thanks to the internet, however, you can now find any information you need at the press of a button. It is important you do so, as it will help you reduce the stress you may experience, have a degree of control over the process itself and ensure you get the best price. Let’s take a look at a few of the things you need to think about before you are ready to make a sale, which should help you get the best possible price.
Firstly, you need to work on the outside. This is what buyers will first see and what will give them their first impression. So, start by cleaning up your garden and give your bushes and trees a good pruning. Take a walk around your property yourself and see how much curb appeal it actually has. Usually, no major work is required and you simply have to clean and tidy up a bit.
Your motivation is yours and yours alone, so don’t go around telling potential buyers. It is all too easy to use your motivation against you, particularly if your potential buyer is supported by a smart realtor. If people really want to know why you are selling, try to be obtuse about it. One answer to give them is that your housing needs have changed. This is just vague enough to be the perfect answer. Interestingly enough, psychological research has shown that people interpret this type of answer into something that they like and can relate to. For example, it is possible that the buyers will believe you came into money and are looking at something bigger. Another possibility is that they believe your kids have moved out and you want to downsize. The important thing is that your buyer won’t think that you are simply selling for the money.
Finally, do a lot of research before you set your price. You must understand that the maximum you will ever get, if you’re lucky, is the asking price. Your goal is for the sale price and the asking price to be as close together as possible. If you ask too much, you may push potential buyers away. Set the price too low, on the other hand, and people will think there is a problem with the property. Then, there is the fact that you will never be able to sell your home for more than the asking price, meaning that you hurt your own pocket by setting the price too low.
When you sell your property, your motivation for doing so will greatly affect the final sale price. Hence, even if your motivation is to sell your property as fast as possible, you still might want to find yourself motivated by profit for your own benefit as well. There are a few things you need to do in order to get top dollar for your home when you sell it.
First things first and get to work on the outside of your property. This is what buyers will first see and what will give them their first impression. Hence, you must make sure that you have clean your yard and that your trees are pruned. Look at your property through the eyes of a stranger and see whether or not it has any curb appeal. Usually, no major work is required and you simply have to clean and tidy up a bit.
Make sure you don’t tell your buyers about your motivation, it should only be yours to know. It is all too easy to use your motivation against you, particularly if your potential buyer is supported by a smart realtor. If you do get asked what your motivation is, try to be obtuse about it. A good excuse is saying that your needs have changed. This is just vague enough to be the perfect answer. It has been shown psychologically that people will interpret these answers in a positive light that works for them. For instance, they might think you are able to afford something bigger and better now. They may also believe that you are ready to find a smaller property because your kids have moved out. Either way, people will always believe that you have a genuine reason for a sale that is not financially motivated.
With the above hints and tips, you should be able to sell your home quickly and at a good price. Clearly, there is no need for you to invest a great deal of money, nor do you have to be an expert in anything. None of these things take more than a bit of common sense and the impact they have is substantial. Hopefully, you will sell your home quickly and at a good price yourself.