The home inspection is a critical stage of the home buying process. It’s an essential step for any buyer and can cause numerous deals to fall apart if any nasty surprises are uncovered.
Both buyers and sellers should be aware of the types of deal-breaking problems that can crop up in a home inspection.
#3 – “Structural Problems”
The buyer knows the job is a fixer-upper but comes across more problems than anticipated. They know they’re going to have to carry out basic repairs, but often times in run-down homes there are bigger problems – we’re talking about structural issues, problems with drainage and so on that will cost thousands of dollars to repair. In such cases, these finds can quickly become a deal-killer.
#2 – Expensive Repairs
Properties of around 20-years old are usually in good condition, but there are many systems that need replacing after this time frame, including the roof, decking, boiler, appliances and so on. Other things like hardwood finishes and carpets may also need fixing, and many buyers are caught out by the length of the maintenance list.
#1 – Cover-ups
The number one deal-breaker is cover-ups, where previous homeowners may have taken short-cuts on renovations and repairs. Homes which were bought to be flipped often come with nasty surprises like this, wherein the flipper has simply covered up bigger problems like chronic damp, mold or structural issues.
