6 Home Features That Give Buyers the Ick

Everyone who has successfully bought a house or condo unit knows that getting emotionally attached to the property that might become your new home before you have closed on the purchase is a recipe for disappointment. Real estate purchase deals can fall apart for a variety of reasons. Buyers or sellers can inexplicably get cold feet when they think about the work and expense involved in transferring ownership of a real estate property. The buyer might get pre-approved for a mortgage loan, but issues might arise later in the loan application process. Things could fall apart when the appraisal of the property happens. None of these things can happen, though, until after the buyer makes an initial offer to purchase the property. Common flaws and red flags make a bad first impression that scares buyers away before they even make an initial offer. Therefore, sellers should either fix these problems before listing the property for sale or, if they do not have the time or money for this, set the asking price low enough to reflect these problems. For help avoiding common problems with selling a real estate property, contact a Washington, D.C. real estate lawyer.

The Flaws That Tank Real Estate Deals

Anyone can watch a few YouTube videos and get an idea of how to stage a house so that it looks superficially appealing to buyers. It is easy to buy new placemats and clean the grout in your shower. The following problems are a different story. They require costly repairs, and if the seller does not make these repairs before the sale, the buyer must make them soon afterward. Buyers tend to get squeamish if a property they are looking at has any of these problems:

• Cracks in the walls, counters separated from the walls, or floors that feel bouncy when you walk on them, as these may indicate problems with the house’s foundation
• A sagging roof, roof shingles that curl, or areas of the roof that seem darker than the rest, since these may indicate that the roof needs replacement
• Discolored spots on the wall or ceiling, since these can indicate water damage and mold growth
• Signs of termite damage, such as cracks in the walls or ceiling
• High levels of radon, a gas which can cause lung cancer; you can tell the radon levels in a house by getting it tested
• Plumbing problems such as noisy pipes, dripping faucets, or sinks and bathtubs that drain slowly

If a house has any of these problems, it might not be a deal-breaker. The buyer might ask the seller to make the repairs before closing on the purchase. If the seller is in a hurry to sell the property, the buyer might be able to negotiate for a lower sale price because of the repairs that the buyer will need to make after buying the property.

Contact Tobin O’Connor Concino P.C. About Real Estate Deals

A Washington, D.C. real estate attorney can help you figure out what to expect when buying or selling a real estate property.  Contact Tobin O’Connor Concino P.C.  in Washington, D.C. or call 202-362-5900.

Source:

msn.com/en-us/money/realestate/don-t-buy-a-house-if-it-has-any-of-these-10-problems/ar-AA1RnFmo?ocid=msedgntp&pc=ACTS&cvid=692cfe5c0f0c40e59dde9de4d27daca0&ei=22