Common Question from Real Clients

What findings from a home inspection should raise serious red flags? I am looking to buy a fixer-upper, so I expect that there will be a number of issues with the house, but what are the things that, if they come up, I should run from the deal because they are going to be too much hassle to fix or are indicative of larger issues with the home?

Red flags are relative to the buyer and their budget. Typically the biggest budget busters are structural issues or water related issues, and often these go hand in hand.

In this market many of the “fixer-upper” houses are short sales and foreclosures where routine maintenance and even major repairs have been delayed far too long. What a buyer needs to understand is that the initial home inspection may only be scratching the surface and that experts in different fields may be able to shed more light on the situation.

My team routinely arranges for structural engineers, waterproofing experts, contractors, and others to evaluate the initial finding of the home inspector and estimate the cost to mitigate such problems. The biggest mistake a buyer can make is not investigating red flags to their fullest extent. To just walk away from a deal, or to just accept the initial findings without additional information would be foolish in my opinion.

A good agent is able to help their buyer line up the right experts to educate their buyer about the problem and potential repair costs. The agent can then help their client make the decision that makes sense for that buyer based on their desires and budget.