Friday, June 12, 2015

7 Red flags to look for when buying a home. Elizabeth Thayer Team Thayer Real Estate News #BuyersAgentEugeneOr

1. Potential Foundation/Structural Problems
One of the most costly repairs to a home is correcting foundation problems.  The foundation of a home is arguably the most important part of a home.  A home with a problematic foundation can cost a home owner thousands of dollars to correct a problem.
When looking at homes, it’s important to be aware of the foundation.  If the home has an unfinished basement it can be relatively easy to see if there is any cracking in the foundation.  Minor cracking may only be a sign of settling in the home, however, large cracks can be a sign of structural problems with the foundation.
If a home doesn't have a basement or has a finished basement that doesn't allow for you to look at the foundation, another way to tell if a home is possibly experiencing structural problems is by looking at the door frames throughout the home.  If the door frames seem not to be square or the doors seem to have difficulty closing, it’s possible there could be some problems with the homes structure.
The best way to determine whether a home has foundation or structural problems is by hiring a structural engineer to conduct an inspection on the home.  There are many home inspectors who can determine whether a home seems to be experiencing some problems, however, it’s unlikely they will be 100% certain whether there are problems or not.
2. Insect Problems
Depending on the area of the home, there are certain pest and insects that buyer’s need to be on the look out for.  A severe pest problem should raise a red flag.  Many pests, especially wood destroying pests, can cause damage to a home that can cost thousands of dollars to rectify.  The most common pests that should raise red flags include termites, powder post beetles, and carpenter ants. Recently while selling a home in Irondequoit, NY, there were signs of pest infestation that were discovered during the home inspection.  While the home inspector was not a licensed pest inspector, he did indicate in his inspection report that there was resemblance of a pest issue.  The buyer requested the seller pay to have a licensed pest inspector look at the possible issue at their expense.  In the end, the inspector was correct and there was a powder post beetle infestation on the rear of the home which was rectified by the seller, at a significant cost, prior to closing. Generally speaking, the cost of a pest inspection is fairly inexpensive.  The cost of a pest inspection is absolutely worth it since a pest or insect problem can cost a significant amount of money to correct.
3.Random Fresh Paint
One of the best ways to inexpensively prepare a home for sale is freshly painting.  Painting a room is a fairly inexpensive way to make a room feel clean and fresh.  This is one of the biggest recommendations that Realtors will give to home owners prior to listing their home for sale. Top Realtors will not suggest a home owner paints one wall or a small area on a ceiling to cover up prior damage.  When looking at homes, a room with only one wall or small portion of the ceiling that has been freshly painted should be a red flag.  Why would a seller only paint a small part of the ceiling?  Or only one wall?  It’s possible the seller is trying to cover up a problem, which should be a cause for concern.

4. Odors
It’s not uncommon that a home owner becomes immune to a foul odor.  Foul odors are one of the easiest ways that a seller can kill a home sale.  When looking at homes, pleasant odors and foul odors can both be red flags. It’s obvious that a foul odor is something that can scare away a potential buyer in less than a minute, but, why is a pleasant odor a possible red flag?  If a home has a plug in air freshener in every outlet, a candle lit in every room, and air fresheners hanging in every room, it’s possible the home owner is attempting to cover up a foul odor.  While this isn't always the case, it’s always something that buyer’s need to be aware of when looking at homes. If there are windows opened in the middle of the winter when looking at a home, it again should raise a red flag.  When looking at homes, if either of these scenarios were to arise, it’s important to find out more and ask the home owner, or have your Realtor find out more.
5. Poor Neighborhood Condition
It’s important for buyer’s to remember that when they are purchasing a home, they are not only purchasing the specific lot it sits on and the property itself.  When buying a home, they are also purchasing the neighborhood.  A red flag that buyer’s need to look for when purchasing a home is a neighborhood that has an overall poor condition.
Buyer’s should look for things such as boarded up properties and a high number of vacant properties in the neighborhood.  Choosing the right neighborhood to purchase a home in is not always easy, however, it is extremely important.  Buying a home in a neighborhood that is decreasing or that has crime problems can be a costly mistake.
Most buyer’s don’t think about how the neighborhood will impact the resale value of the home, since they don’t own the property yet.  Buying a home in a neighborhood that is decreasing can create problems in the future, not necessarily in the immediate future.
6. Stains On Walls and/or Ceilings
If a seller has not attempted to cover up stains on a wall or ceiling with paint, this should still be viewed as a red flag when buying a home.
Are the stains a result from a leak in the roof?  Are the stains a result from ice damming?  Are the stains a result of a plumbing issue?
If there are stains on a wall or ceiling in the home, it’s important to find out what has caused these stains.  It’s possible the stains are from a prior problem that has been corrected.  Not investigating a stain on a wall or ceiling can cost a buyer thousands of dollars in repairs in the future.
7. Mold
Similar to water problems, mold problems should raise red flags when buying a home.  Mold can lead to major health problems, especially for young children.  Mold problems are not always easily discovered, however, if a home you look at has mold problems, you need to consider whether the home is the right fit or not.  There are many considerations that need to be taken into account to help determine whether buying a home with mold is the correct decision or not.
Mold remediation can be completed on a home, however, it can be costly.  Like many of these red flags, most home inspectors can help discover mold problems in a home.  The most common areas for mold in a home are basements and attics.  There are companies that can perform mold tests to determine whether for certain a home has mold or not.
Best buyers agents in Oregon
Elizabeth Thayer of Team Thayer

When buying a home, it’s important a top buyer’s agent is chosen.  A top buyer’s agent can help point out many of these red flags to potential home buyer’s while viewing a property. Elizabeth Thayer is a highly rated Buyer's agent with 17 years experience in Eugene Oregon.
Call Elizabeth Thayer @ 541-914-4785
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