When you are viewing a house for purchase, you will want to make a quick inspection to ensure that there are not any big issues that the seller is not telling you up front. |
Home sellers will generally allow a prospective buyer to inspect the property before an agreement is put in writing. When you have found something that is typically undesirable, you can use that as a form of leverage to negotiate on the final purchase price.
Create a checklist of your key concerns over the house and do not be embarrassed about bring it along when you enter a house for viewing. You are after all, making a significant financial commitment. Take notes of what you have observed during your inspection and later discuss them with yoru agent or seller.
Here are some things you should definitely take note of:
Find out when was the house built and when was the last major renovation conducted. Also find out an estimate of the amount of money spent on the last renovation. These can affect the value of the property. Even if it does not, you can use it as leverage when bargaining.
Examine the exterior and foundation of the property. Very often, home buyers look around the house totally forgetting to inspect the home exterior as well. Test the water pressure and look out for plumbing problems in the restrooms, kitchen and basement. Look out for wall and ceiling cracks as well. Question the seller on flooding occurrences and noise level during heavy rains.
Next, examine the condition of the air conditioning and heater. Air conditioners can emit a foul smell that can only be removed by replacing the whole system. Find out if there are false ceilings used for the house. Locate where they are so that you know how to plan for your own renovation.
It is unlikely for you to make a home purchase on the first viewing. Take pictures of your observations to review them later with your partner. This can help you make comparison between different properties and also gives a basis for negotiation on price if you decide to purchase the property.
These inspection tips should also be applied when you are viewing a new condo for sale. Even new properties can have defects.
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