When looking for your new home, it’s easy to fall in love with a home that appears to be everything you are looking for on paper. Picture this.... your agent sends you a listing that has everything you are looking for, you peruse the pictures, and it looks perfect! You then ask your Tailored Realty agent to book a showing to confirm it looks exactly like its picture. Then the plot twist, you and your agent put in an offer on the property over the asking price, in order to outbid the competition …... only to find out although the comparable homes in the area have a value comparable to the amount you offered, your particular property requires repairs driving the cost up.
Although we all wish we had x-ray vision and a background in the trades, to investigate the walls and plumbing and predict the foreseeable repairs a property may require. All hope is not lost, because during a showing with your agent you can attempt to do a mini inspection, in order to get a better idea of what you may be getting into, when purchasing a property. This checklist is not foolproof, which is why inspection clauses exist, but it will give you some small things to consider and look out for during your showing.
Age of the roof
When you are going for your showing, one way you can check the condition of the roof (Aside from asking your agent to ask the listing agent) is to take a quick look when approaching the property and see if you see any missing shingles, curling shingles or Mold on shingles or if you happen to notice the roof of the property sagging. These are visible indicators that the roof may soon need to be replaced.
Wall and floor fractures, cracks in the exterior brick, uneven floors, gaping around windows and exterior doors, doors sticking and not opening properly. These are all issues that can indicate problems with the property's foundation.
Check under the sinks for stains indicating water leakage, a Mold like smell or signs of excessive moisture.
Your nose is your best tool for this one! Mold has a distinctive smell that is not easily covered up. Take a deep breath of the air in the basement and see if you smell it. Look at the ceiling of the basement, especially if it is under a bathroom or a kitchen. If you notice signs of excessive moisture or water damage that may indicate Mold.
Look for noticeable signs of wear and tear.
For this one, just look at the features of the house like flooring and appliances. Ask yourself, do I notice any visible wear and tear? Do these appliances, countertops, or light fixtures look a little older?
In conclusion, although it's almost impossible to know exactly everything about a property within the confines of a showing and an inspection by a licensed professional is of paramount importance when moving forward with a Real Estate transaction.
It's also just as important to make sure you are asking the right questions regarding the property you are interested in and making the most of your initial visit to the property by being observant of specific things. Being observant can make a world of difference in terms of price negotiation and determining the depreciated value of the home you may be interested in.