How An Experienced Realtor Can Help Avoid Buying A Money Pit

A realtor can help save you thousands of dollars

An experienced realtor knows the warning signs of a home purchased that is bound to be a money pit. Over time and through the inspections that an experienced realtor will have conducted, help them know what to watch for in order to protect their clients.

These things are the areas that when you are looking at paint and carpet your realtor will be looking at foundations and roofs. Here is a basic explanation of the inspections that will help keep your investments safe.

These inspections cover areas of the house and property such as appliances, utility meters, electrical wiring, plumbing, fuse and circuit breaker boxes, furnaces, water heater, sinks, toilets, bath tubs, central air, or swamp coolers, and any other electrical or water system that is part of the property.

A home is a significant investment that should be a positive experience. However in a situation that the home you purchase has flooding issues, power problems, phone line changes, pipes that are rotted, or any other miscellaneous problem can result in being an on going living nightmare.

With this is mind knowing what and who to have completed these inspections with your best interest in mind it very important. You can also review the appraisal that was completed on the home. Your realtor will be able to show you several options that would be able to protect you from these types of issues.

There are organizations that help realtors know which inspectors are really making sure the house is up to code. One that is a great resource is NACHI their web site is located at National Association of Certified Home Inspectors. This is the type of contacts your realtor will have to make sure you are getting the best home for your money. No one wants to make a huge investment into something that is going to continue to be a money pit.

Some homes have incurable defects. This is a situation that is beyond the standard repair of the home. Some defects are worse than others. If you have never lived next to a train track, be prepared for noise at all times of day and night. This is a form of a defect. Another defect is a freeway that has traffic all the time day and night. Those are defects that we can learn to deal with, however there are some defects that will affect the home and living experience on a much grander scale.

There are what is called economic obsolesce. This term is used primarily by appraisers and realtors when there is a bad floor plan, very poor location, located near hazardous things like high voltage power lines, or a city dump. There are also defects that can be very expensive and dangerous that your realtor or agent can make sure you are not stuck with.

For example: You find the most charming home, it is a beautiful cottage style, 70 years old, remodeled from what you can see. The neighborhood is safe for kids, with a peaceful back yard with trees and flowers. It is perfect. Or so you thought, three months into the stay, the bad plumbing has problems due to weather, or something, and then your house is filled with sewage. We are not talking water. Now the previous owners new this, they covered it up.

The appraisal they have been completed by a family friend who really did not look that close and there was not a good inspection completed. Now you moved your entire family and there is raw sewage all over your carpets and floors. What can you do. The cost for the repairs will be in the range of $10,000 and you have to have the repair done in order to live in the home at all.

The pipes out in the yard and into the street are bad. There is no way around it. The responsibility is now yours. This is why you need to have the support of a realtor on your side, making sure this does not become your problem.

When you are looking to purchase a home, it is important to have a buyer’s agent or realtor there with you through the process to make sure you are not buying a home that will cost you in the long run.

Remember that it does not cost you any extra money to have a realtor or buyer’s agent help you. This is because the commission will be paid in most cases with the commission from the purchase of the house. Therefore there really is no reason not to have the help you need to make a good decision.

Chuck Lunsford is the content manager for Tina Abraham, a leading real estate broker in Wilmington, North Carolina. Tina specializes in selling homes in Wilmington, Greater Wilmington, Pender County and Brunswick County, which are some of the highest demand homes in the world. Visit us for more information on Tina and how she can help you buy or sell Wilmington, NC real estate, or call (910) 790-7484.

By: tireddadoffive

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