The most common problems home sellers try to hide range from minor to major. No matter how small or big, you as a buyer should be aware of them so you don’t unwittingly purchase months and months of buyer’s remorse. Along with getting past the top home buying myths, you need to know issues sellers usually attempt to conceal from buyers. While it’s unfortunate, it is a reality you must deal with when buying a home.
Most Common Problems Home Sellers Try to Hide
Some of these problems you can learn about without much effort. For instance, you should get to know the neighborhood before submitting a purchase offer. You can accomplish that task by visiting a home at certain hours to be in-the-know. This is actually one of the biggest mistakes home buyers make all the time — they purchase a home for what it is and not its neighborhood. Experienced real estate professionals know you buy into a neighborhood for the best return on investment.
While laws vary from state to state, generally speaking, sellers are responsible for disclosing only information within their personal knowledge that could affect the property value, such as structural defects, mold, and lead paint. Some issues, however, fall into a gray area that a home seller may try to conceal in order to get a top-dollar offer. To protect your investment, hire a certified home inspector before making an offer, and be on the lookout for the signs that a seller has something to hide. —MSN.com
This is the reason the old adage real estate is all about location, location, location is so undeniable. When it comes time to sell in the future, you’ll learn just how important location really is and that’s not something to leave to chance. Of course, owners can’t hide their neighborhood (except in a few situations) but there are certain issues which sellers do attempt to conceal. Here are the most common problems home sellers try to hide from buyers:
- Water leaks. One of the biggest and most costly annoyances that plague homeowners are water leaks. These can be extraordinarily difficult to pinpoint (particularly when small) and cost a lot to fix after being identified. If you notice fresh paint on the ceiling or at the base of a wall, be sure to inquire why.
- Pest problems. There’s no question about just how much damage pest infestations cause. It’s not only a health hazard, it can also be a safety issue. Rodents chew through almost anything, including electrical wiring. Unfortunately, some sellers will notice a problem and ignore it or worse, try to cover it up. Always get a pest inspection when buying a home.
- Neighborhood concerns. It’s not only noisy neighbors you want to avoid, it’s a neighborhood that’s currently undergoing or will go through changes. For instance, that beautiful green space might not be there just a year or more after you move into the house. Ask the seller if they’ve witnessed any changes or know about future developments so you are taken by surprise.
- Structural component issues. Problems with the components, like the roof, foundation, walls, and so on can easily go from minor to major in a very short period of time. If you see signs of cracks in walls or surfaces appear uneven, it could be due to structural components deteriorating. This is where a home inspection will be invaluable.
- Old, failing mechanical systems. A central air and heating unit that doesn’t exactly cool or heat the home is just one example of a failing mechanical system. Drains that easily clog, and a water heater that only produces marginally hot water are things to know about. Here again, the home inspection will likely reveal such issues.
If you are considering buying a home here in Orlando, contact us for the latest market information. Together, we’ll find a house that best fits your wants and needs.