5 Red Flags to Watch for When You Buy a Home 'As Is'
When buying a home, it's important to be aware of the potential red flags that could indicate you're making a bad purchase decision. As-is home purchases can be especially risky, because someone selling a property in as-is condition isn't willing to make repairs for you.
5 Red Flags to Watch for When You Buy a Home "As Is"
Here are five red flags to watch out for when considering an as-is purchase:
- Pest problems
- Foundation or structural issues
- Fresh paint in odd places
- Shoddy workmanship and repairs
- Strange odors
Here's a closer look at each.
As-Is Red Flag #1: Pest Problems
Pest problems are a common issue in homes, and they can be expensive to fix. If you're considering an as-is purchase, be sure to have the property inspected for pests first. This will give you a better idea of what you're dealing with and whether or not the pest problem is something you're willing to take on.
Related: Which of these five mortgage types is right for you?
As-Is Red Flag #2: Foundation or Structural Issues
Foundation and structural issues are a major concern when considering an as-is purchase. These problems can be expensive to fix, and they can also make a home unsafe to live in. If you see any signs of foundation or structural damage, it may be best to walk away from the home and look for something else.
As-Is Red Flag #3: Fresh Paint in Odd Places
If you see fresh paint in odd places, it could be a sign that someone is trying to cover up damage. This is especially true if the paint job is poorly done or if there are areas where the paint doesn't match. If you're considering an as-is purchase, be sure to take a close look at any areas that have been freshly painted.
Related: Can a seller keep your earnest money deposit?
As-Is Red Flag #4: Shoddy Workmanship and Repairs
If you see evidence of shoddy workmanship or repairs, it's a good idea to walk away from the home. This is because these problems can be costly to fix, and they can also make a home unsafe to live in. If you're considering an as-is purchase, be sure to look for signs of shoddy workmanship, such as poor craftsmanship, mismatched materials, and unfinished repairs.
As-Is Red Flag #5: Strange Odors
If you notice any strange odors coming from a home, you need to know that they could be indicative of a problem, such as mold or mildew. Likewise, if you notice lots of synthetic fragrance, such as that coming from air fresheners, candles or sprays, the current owner may be trying to cover something up.
Related: What’s the difference between an inspection and an appraisal?
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