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Marie Prophete

Sales Associate

My Blog

Top 8 things to look for While Buying a House

2/14/2017

 

Inspecting every single aspect of a home is important when buying a home. A home is a big investment, and for many of us this is the largest investment of our lives. You can hire a professional home inspector to inspect the subject property before you purchase it. Since the professionals will take care of everything, it is helpful to have a general idea of what the professional home inspector look for so that you can follow along.

This article will give you the basic idea about the areas you should be informed so that you have a better view of the property you are interested in purchasing

  1. General home inspection

To make the place functional when you move in, the basics like foundation, roof, electrical system, water and everything else will be covered in home inspection. The general exterior area includes:

  • Wood and trim rot.
  • Roof.
  • Chimney cracking or re-pointing issues.
  • Garden and water supply.
  • Structural issues.
  • Window issues.
  • Bulkhead problems.

While looking inside, the most common place an inspector start with is the basement. This is the place where more than 80% of home problems begins. The major components of the house including heating system, electrical panel, and plumbing pipes are found in the basement.

General interior inspection includes:

  • Heating system life expectancy.
  • Pipe licks near the boiler.
  • A structural check of the foundation.
  • An air conditioning system
  • Electrical issues
  • Window or skylight seals.
  • When the property is sold as-is, there might be a whole lot problems than what is mentioned.
  1. Mold

Mold is something that could hurt home buying process, especially to new homebuyers. However, this is to understand that at some point every home many homes wind up with mold somewhere. Mold types varies, and some are very easy to dealth with. It is recommended to go through few companies for price quotations as the price can dramatically change from one service provider to other.

  1. Radon

Radon is a radioactive material that can be found in the soil around the house and can cause health problem to the people living in the house for long term. Sometimes the radon can become trapped, and the home occupants can be exposed which will have negative health effect. During the analyzing time, a radon inspection will be carried out and there are some useful measures that can be suggested by the service company to reduce or control the exposure level. Some of the service company have ways to remove the radon entirely from the air.

  1. Pests and Insects

It is normal to find general indoor problems like mouse or ant. However, in many situations, this can be severe. For instant, insect-like Termites can ruin your house structure if they are let to grow. These sort of house issue should be addressed in your report.

  1. Lead paint

Paint doesn’t pose any danger unless you ingest it and the house owner is legally obliged to inform you if the house has a lead paint issue. (Some estate may differ). The problem can accelerate when you have children around. Even though the present house owner doesn’t disclose it, this should come out while inspecting by the home inspector.

  1. Water supply (Well water)

If your home has a well, then the home inspection will need to have a detailed investigation of the state of the well. Water quality, water flow rate, etc. should come out from the investigation. Wells are expensive to drill and this should get the best attention while inspecting if any well exists.

  1. Septic System

You will not be able to get a home load if you don’t pass tittle 5. Tittle 5 contains the report about septic system and the bedroom capacity that property hold based on the septic system. For example, if the septic capacity is 2bedroom and your house has 3bedrooms it should be marketed as 2 bedroom house regardless of the extra bedroom that exists! Tittle 5 also requires the owner to get their septic system tested before selling a property to the buyers.

  1. Smoke Detectors

This is fairly and easy test to check the functionality of the existing smoke detectors. In some estate, it is a requirement to have operating smoke detectors before selling any property. Either the current owner or the service provider company will provide a certificate saying that the property has working smoke and carbon detectors.

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Selling your home As Is? What’s the catch?

2/7/2017

 

What would drive you to the decision to sell your house as-is? In a typical situation selling the house as-is seems to be the best short course action especially when the house has issues. The best course of action would be to understand your situation and then reach a decision where you can truly be satisfied.

Selling a home as-is means that you are selling a property at the present state it is in with an understanding that no repairs will be made and the home will come with its current faults and issues. 

What does the buyers think?

  • They will perceive your home negatively

When it comes to buying as-is most buyers will have a negative view about your home. No doubt they will try to purchase it but in the back of their mind they will think that this house has some serious issues and the present occupants can’t afford to fix it.

  • Low Offers

It is usual to expect low offers when selling as-is. They buyer will be under the assumption that your property has some serious defects and they might bargain like you are in a desperate situation to sell. This might even be a lot less than what is your home worth.

  • Difficult selling

The situation can easily become stressful when you and your realtor have to almost fight to explain to the buyers what your house worth is. Also to note that in buyers mind there will always be some trust issue and would assume that you are still trying to hide something. Sometimes you might spend a lot of money listing your house and still attract few buyers for being a straight forward nature of as-is selling.

Common reasons house get listed as-is:

Financial situation is the most common cause people start consider selling as-is. On the other hand if the property has defects and you have no other way to repair it, you might have no other option but to sell as-is. In financial distress situation you might consider getting rid of the house in quick time and at that moment you consider start calling Investment Companies for immediate sale. The major downside of these sort of Investment Company is that they will try to buy your house by spending pennies on the dollar if they can. To bear in mind that they will offer a lot less than market value. 

Smart steps

It might not make sense but a little investment when selling as-is can make the difference to get you the right value for your home. Small details like paint of the rooms, carpet, repair and paint fence etc. would help a lot to get a better value. This is something you should discuss with your real estate agent to best represent your home to the buyers. 

Right Pricing

Being reasonable while pricing will secure a smooth and quick closing. Putting a price tag on a home is much harder than selling a home as-is. You should work closely with your realtor to estimate repairs and improvements and make necessary price adjustment. 

Talking to a Realtor

Every home sale is different in its own way – involving a unique property, and a unique seller(s) that have specific needs, goals and limitations. You may really need to consider selling as-is. Or, you may need a short-sale that caters to your specific situation. The best way to determine what your options are is to speak to your Realtor. He or she can look over your specific home and you can explain your situation and evaluate your options. Then, your real estate can help to guide you through the steps of selling your home, on your terms.

 

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