28 Feb 2016
Property lemon alert! Top 10 warning signs

Property lemon alert! Top 10 warning signs

Property lemon alert! Top 10 warning signs
0 comments
Guid,Tips,Selling,Auction real estate agents

When you’re on the hunt for a property, there’s a few red flags to be mindful of to avoid ending up with a property lemon!

Length of time on the market

Although this may seem obvious, checking how long the property has been on the market for (including whether it was previously listed with other agencies) can help you avoid a property which has been left on the shelf (perhaps for good reason!).

Difficulty in gaining an inspection

If you’re finding it near-impossible to get through the property, the alarm bells should be ringing, as this may be indicating issues behind the scenes.

Dodgy build quality

Although some defects will stick out like a sore thumb, it’s always wise to arrange a trustworthy building and pest inspector to check out the property and find any hidden issues. This will help you avoid any unexpected surprises or use as a negotiating tool when it comes to talking price.

Vacant block or development next door

Do your homework and check with the local council as to what is proposed for the neighbouring property. It could be a costly mistake when your once quiet property becomes overlooked by a massive high rise or commercial building.

Missing maintenance

If the owner hasn’t bothered to properly clean or present the property, this can allude to further maintenance issues being overlooked. If the property has been freshly painted, yet the gutters are full of leaves, perhaps be extra vigilant in your inspection in assessing its suitability.

Damp

The smell of dampness can be quite easily masked with candles and scents, so look for other signs and don’t just rely off your nose.

No internal pics

If there’s no internal photos of the property being shown in the ads, this could mean difficult tenants/access or the inside is so poorly presented in would deter buyers. Not that this means you shouldn’t be interested, but it might be worth a quick call to the agent to find out the facts before you inspect.

Complicated contracts

Make sure you check the basic terms of the contract to see if they suit your situation before you’ve committed to the property.

Non-compliant building work

Check with the local council to ensure all additions or work to the property is council-approved with occupancy certification.

Lack of light

If it’s a nice sunny day, but all the lights are still on inside, this may indicate poor aspect or location of the property.

 

To find your next property (which isn’t a lemon) contact Naked Real Estate.

 

Written by Naked Writers

Property lemon alert! Top 10 warning signs
Naked Writers

Naked Real Estate Writers collaborating to bring the latest news and trends in real estate for buying, selling and working in the exciting world of real estate. Is it time for you to get Naked?

View all posts by : Naked Writers

Leave a reply

Your email address will not be published. Required fields are marked *

* required fields

Related Posts

5 Things to Do Before a Home Open

5 Things to Do Before a Home Open

7 Common Mistakes That Landlords Make

7 Common Mistakes That Landlords Make

A Positive Move? How Proposed Reforms to Negative Gearing will Impact First Homebuyers

A Positive Move? How Proposed Reforms to Negative Gearing will Impact First Homebuyers

Need some help right now?

Please fill out the form below with any questions you have. We will get back to you promptly.

2 + 9 =