You feel ready to buy your first home in Ohio and start the next chapter of your life. What red flags may turn your dream of becoming a homeowner into a nightmare?
There are several warning signs homeowners should be aware of from the start. Learn how to protect your finances and the hard work you put into finding an ideal property.
Extensive time on the market
While exploring details of a specific property, check how long it has been on the market. The property may be fine, or it may have hidden issues. A little digging may reveal that divorce proceedings or probate court prevented the home from moving off the market. If you decide to tour the home anyway, double-check that photos of the property shared on the listing match what you see.
No disclosure form
Before making an offer, request a disclosure form that lists plumbing, structural and electrical problems. If the seller does not provide a form or displays hesitation about disclosing problems with the home, consider looking elsewhere. The property may have serious issues, such as lead paint, termites or poor soil. Beyond the disclosure form, have a professional inspect the home to ensure everything looks great. You do not want to inherit undisclosed miseries that may cost you a fortune to remedy.
Being greeted with scented candles and soothing music upon arriving for a home tour may soothe you, but it may all serve as a distraction. The candles may conceal noxious odors, and music may cover noisy pipes and creaks in the home. Ask the tour guide to blow out the candles and turn off the music so you experience the home in its natural state.
Do not let your excitement about buying a home cloud you from reality. Noticing real estate red flags may keep you from investing in a money pit.