Housing News

Top Red Flags to Watch Out For

Watch for these things to get your buck’s worth.

Checking out an REO? Fallen in love with a foreclosed home? Found a fixer upper that fits your taste? Don’t be too in a hurry to buy that house. Remember, a professional home inspector has to do his job of checking the home that you’d be buying. In some states, a red flag must be declared by a real estate agent. Some states on the other hand, do not require agents to reveal red flags but you should put an effort on asking what defects the property has.

Red flags are in the form of simple defects (missing tiles) to more complex (leaking roof). Below are the top red flags that are often found in for sale properties.

Cracks in Wall Surfaces
If cracks are a result of the home’s lath and plaster construction, it’s still not a major problem. However, it it’s less than a year old, your home inspector will give you an advice on what to do.

Uneven or Sticking Doors
If doors won’t close due to their uneven attachment or they won’t open because of poor construction or material, this needs to be included in the red flags list.

Sloping Floors
Any outdoor flooring that slopes to your interior will surely bring in water. Overtime, it may cause molds and damage your house’s foundation.

Damp Basement
Most wet basements are caused by improper drainage of surface water. Improperly installed or leaking drains also do not allow foundation water to seep out.

Faulty Wiring
If there are flickering lights, malfunctioning circuits and dead outlets, the house has faulty wiring. Only a licensed electrician can fix this problem.

Dirty Heating Vents
If there is black soot present in the heating vents, this means that the furnace has not been maintained properly. It may also be a filter problem and before you know it, you’re inhaling harmful carbon monoxide already.

Presence of Bugs
You don’t need to see the bugs once you visit the house for sale. A termite inspector can detect these insects.

For more information, here’s a Fox News report on spotting red flags.

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