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Red Flags to Know in the Home Search

red flags blog post
Sep 17, 2018 04:30 PM

By: Primary Residential Mortgage, Inc.

As a top mortgage company across the country, we at Primary Residential Mortgage are about more than just getting you the best mortgage rates. We’re about that, of course, but we’re also here to provide expertise and advice in numerous areas, from basic mortgage goal planning to your actual home search itself.

Within this latter area, we can help you avoid several potential pitfalls in the home buying process. Here are some major red flags that should raise concern when you’re searching around.

Pest or Insect Issues

Pests are frustrating and often annoying, but for homeowners, they can be much worse than this. Several pests will actively destroy parts of the home, such as termites. Ask whether a recent pest inspection has been done, and consider having your own inspection carried out if not. If anything comes up on this inspection, you’re within your rights to ask the seller to cover those costs.

Repair or Workmanship Issues

Some homeowners try to make repairs on their own instead of spending on professionals, but a careful eye can pick this up. If you see areas that looked rushed or incomplete, particularly in areas like plumbing, carpentry or electrical work, ask how those repairs were made.

Foundational Problems

The home’s foundation is vital, and repairs for it can be very expensive in some cases. Be on the lookout for any cracking near the foundation, which is often one of the first signs of future foundation issues. Start with unfinished basements, which are often the source of some of these issues. Also look at doors, windows and other openings in the home.

Patchy Paint

It’s normal for a seller to do things like a full repainting on walls to improve the face value of the home – this is not a red flag. But what is a red flag is patches of paint you might notice either inside or outside the home; these are often an attempt to cover up damage by the seller, and this damage could be expensive to fix. During your inspection of the home, keep a careful eye out for this.

Smells

Smells can also be a red flag – even pleasant smells, which might be an attempt to cover up a terrible odor. In many cases it’s actually these covering attempts that give the seller away. Look for things like all the windows being open despite it being cold outside, deodorizer in every single room, or similar signs.

Mold

Not only can mold indicate issues like leaky pipes, it can also pose a major health risk and can be expensive to fix. Mold can often be found during a home inspection – check areas like the basement, attic and all bathroom areas where moisture is present.

For more on red flags to avoid while searching for a home, or to learn about any of our mortgage solutions, speak to the pros at Primary Residential Mortgage today.

*The views and opinions expressed are my own and do not necessarily represent the official policy or position of Primary Residential Mortgage, Inc.

Contact your local Loan Officer today to learn more about your home financing options.