In today's real estate world, when a property comes along that looks appealing, things can move pretty quickly. Many times there are multiple offers submitted for one property. Especially when it comes to short sales & foreclosures. Time is of the essence!
But before submitting an offer, It's important to know what you're getting into. The cost of inspections, appraisals, & applying for a loan only to find out what you're getting into is a dud!
Although hiring a qualified real estate agent is always key to assist you in the process of purchasing a property, below are a few tips on how to do your own "mini" home inspection so you don't buy more than you bargained for!
5 Things to Check Before You Buy a House
1. The walls. Are there any cracks in the walls – outside & inside. Do the walls look straight or do they bow? Pay close attention to the corners of the rooms. Do they align or cave down towards the floors?
2. The roof. Look around the perimeter of the roof. Are there any holes or lifted shingles? What does the condition of the soffits look like?
3. Water damage. Does the property have any sitting water near or around the house? Are there signs of water damage around the foundation outside? Inside the house check ALL ceilings including the closets! Most water damage likes to hide in hard to see spots like coat closets. Do you see signs of water damage under the sinks? Bathrooms & kitchens will have bowed and/or dicolored floor trim if there was previous floods on the property.
4. Appliances & Fixtures. Do the appliances work? Are the fixtures in good working condition? While some appliances can cost just a few hundred dollars, if the problems are more severe such as poor installation, it can lead to potenitally much larger problem costing thousands of dollars.
5. Electrical, A/C or Heat, & Plumbing systems. Has the water heater & a/c-heat unit been maintained? Does the electrical circuit breaker have at least “100 amps” marked on it? Does the outside units look operational? When you observe the a/c unit, look inside the unit. Many times the coils are damaged or missing.
Doing a mini inspection does not mean that you can skip the professional inspections. It should always be recommended by your real estate agent to have any necessary inspections done to the property before you purchase it.
This mini inspection is a great tool to help you estimate the cost of repairs, upgrades, & maintenance which can help you not only determining if the property is worth buying but also what a reasonable offer may be based on your estimated costs.
Hope you found this article helpful & feel free to email me Cat@DontWorrySignHappy.com for more information or visit our website: www.DontWorrySignHappy.com.