If someone is eager to sell their property, they may keep a few defects hidden. Although a professional inspector would pick up on any problem, it is expensive to hire one for each viewing. Thus, here are a few things that you can spot yourself, telling you to avoid the purchase.
The first thing is that you must think twice before you purchase a “fixer upper.” These properties are often very cheap, which makes them very attractive. Often, we believe that the things that need fixing are things we can do with our own DIY skills. 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, properties that have had DIY repairs can also be a red flag. With all the best intentions, things that have been done without professional help can look great, but are often full of problems.
Next, make sure you know if the property has been foreclosed on or is going through a short sale. Of course, these properties are the cheapest, but they are also often in a bad condition and could be a sign of the community.
Basically, you should not purchase a property that has not gone through a professional inspection. With the information above, you should be able to find out whether you should walk away, or whether hiring an inspector is a good idea. If you find that there are indeed serious problems with the property but you don’t want to simply walk away, you could consider asking for a large discount so that you can pay for repairs. Make sure you take home inspectors’ opinion on board too. 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.