Red Flags to Be Wary of When Purchasing a Home

 Posted on January 14, 2020 in Real Estate

There is no question that buying a home can be an exhilarating venture. However, it is also a process you should not take lightly. It is important that you do not rush the selection process and that you ensure you are making an informed decision. For help with home purchase contracts and trustworthy legal guidance throughout the home-buying process, contact an experienced real estate attorney. While you are house-hunting, make sure to consider all of the relevant factors. Keep a watchful eye out for the following red flags that could signal that the home you are considering is not the right option for you.

The Owner Will Not Cooperate with the Inspection Process

Getting a home inspection when you are considering buying a new home is essential. There may be major issues with the roof, water damage that is concealed by wallpaper or paint, faulty wiring, plumbing issues, and other problems which are not noticeable without a proper inspection. If the homeowner seems hesitant to allow an inspection or does not want you to use your own inspector, this could be a sign that he or she is trying to hide something.

Missing Permits for Major Work Done to the Home

When you are considering a home, ask to look over the Report of Residential Building Record or the “3R” report. This report should include the permits issued for any major renovations or additions that were done to the home since the home was built. If there has been significant work done to the home and there is no record of it, this could mean that the work was not done to code. It could also mean that the renovations were poorly executed or are now unsafe.

The Owner or Agent Is Trying to Hide Smells or Sounds

If you walk into a potential home and it is covered in fragrant candles and potpourri, this may be a sign that the home is plagued by permanent bad smells. These smells could be from pets, mold, or other unpleasant issues. Similarly, if there is music or white noise playing throughout the house, this may be because the seller is trying to hide how noisy the area is. Ask to have air conditioning, fans, and music turned off so that you can determine if outside noises are a deal breaker for you.

Contact a Libertyville Real Estate Attorney

Your home is likely to be the largest purchase you will ever make, and it is important that you take any red flags seriously. Speak with an experienced Lake County real estate lawyer to get the legal guidance you need. Call 847-549-0000 today and schedule a free phone consultation at Newland & Newland, L.L.P. to discuss your needs.

Sources:

https://www.homes.com/blog/2015/05/money-pit/

https://www.businessinsider.com/warning-signs-bad-real-estate-deal-homebuying-2019-1