Back to Blog

Red Flags To Look For When Buying Real Estate

Sammamish Mortgage
Published:
August 7, 2013
Last updated:
February 26, 2021
In This Article

If you’re looking to purchase real estate, keep in mind that the homes you are considering might be in need of repairs or improvements.

In a recent study done by a major home inspection company, at least 40 percent of previously owned homes on the market have at least one serious issue or defect.

When buying real estate, you should have a professional inspection performed on the property to look for any issues that might not be visible to the untrained eye.

It’s better to identify this damage before you buy so that you are not stuck with budget-busting renovations.

Below are a few major red flags you should look for when buying a home.

Foundation Damage

Look at the slope of the yard. If the land slopes towards the house, this could be causing water to run down into the foundation, which will result in moisture damage. Take a look at the foundation for any bulges or cracks that could indicate serious issues.

Faulty Wiring

Your home inspector should be sure to check the electrical wiring — especially if it is an older house. If there are any flickering lights, circuits that don’t work, or warm outlets, these are telltale signs of wiring issues that might be expensive to fix.

Ceiling Stains

This is usually a sign that something in the house is leaking. Ceiling stains are common underneath bathrooms when a toilet, shower or bathtub has a leak. A leaky roof could be an even more expensive repair.

When you are negotiating to buy a house and damage is discovered, you can either change your mind about the sale or renegotiate for a lower price that factors in the cost of repairs. Either way, it is always worth having the home professionally inspected to identify red flags and avoid any surprises.

Today’s Mortgage Rates Jul, 31, Sat, 2021

Ready to Apply For a Mortgage in WA, OR, CO, or ID?

Do you have questions about home loans? Are you ready to apply for a mortgage to buy a home? If so, Sammamish Mortgage can help. We are a local mortgage company from Bellevue, Washington, serving the entire state, as well as Oregon, Idaho, and Colorado. We offer many mortgage programs to buyers all over the Pacific Northwest and have been doing so since 1992. Contact us today with any questions you have about mortgages.

Get an Instant Mortgage Rate Quote Today

Other Blogs You May Like
Most Affordable Neighborhoods for Portland Home Buyers, 2021 Most Affordable Neighborhoods for Portland Home Buyers, 2021
July 28, 2021

Portland home prices have rapidly increased over the past decade. Prices are still relatively expensive compared to statewide prices across Oregon, which is something all buyers should know when taking out a mortgage with the help of a mortgage lender…

Read more
6 Powerful Tips For Buying and Selling a Home 6 Powerful Tips For Buying and Selling a Home
July 28, 2021

Are you thinking of buying or selling your home some time soon? If so, you’ll need to approach the process with a strategy. In This Article: Get a good idea of your NET equity. Decide how much of your anticipated…

Read more

Show 241 more posts
from this category

Begin your home loan process today! Our mortgage advisors are standing by. Request a free personalized rate quote. (425) 401-8787