When purchasing a home whether a foreclosure or owner occupied home there is a potential for hidden defects. It is always recommended to have a home inspection done so you are aware of some of these issues and request to have them repaired by the seller. This can save you a lot of money in the futures.
No home is flawless, but certain physical problems can be expensive. Watch for:
- Water leaks. Look for stains on ceilings and near the baseboards, especially in basements or attics.
- Shifting foundations. Look for large cracks along the home's foundation.
- Drainage. Look for standing water, either around the foundation of the home of in the yard.
- Termites. Look for weakened or grooved wood, especially near ground level.
- Worn roofs. Look for broken or missing copings and buckled shingles as well as water spots on ceilings.
- Inadequate wiring. Look for antiquated fuse boxes, extension cords (indicating insufficient outlets), and outlets without a place to plug in the grounding prong.
- Plumbing problems. Very low water pressure, banging in pipes.
Reprinted from REALTOR® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS®
Copyright 2004. All rights reserved. www.REALTOR.org/realtormag
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