Friday, December 23, 2022 / by Marketing Manager
Purchasing Real Estate? Things to Look for During a Final Walk-Through
When buying a house to live in or to rent out, there are a few things you should check for during the final walk-through.
As a real estate agent and investor, I've observed some sellers' tricks. I'll share my perspective on what to look for during a final walk-through with you in this article.
What to Consider When Conducting a Walk-Through When Buying a Property
I have a fiduciary duty to my buyer as a realtor. I have to monitor the transaction with my eyes and ears. I also need to comprehend the seller's objectives. Although navigating this can be challenging, the realtor's task is completed as long as the client's best interests are protected.
Let's talk about what a buyer should check for during a final walk-through. I have specifically taken note of seven things. These are not listed in priority order. However, all items can determine the likelihood of whether an acquisition will be disastrous or profitable.
Let's talk about what a buyer should check for during a final walk-through. I have specifically taken note of seven things. These are not listed in priority order. However, all items can determine the likelihood of whether an acquisition will be disastrous or profitable.
Infestations
Bed bugs, termites, or even harmful ants can all be considered infestations. Going to your neighborhood home improvement store can be all that is required to get rid of an infestation. In the worst-case scenario, however, thousands of dollars could be spent on the solution. I strongly advise being proactive and scheduling an inspection.I've been caught off guard when walking a potential flip and finding the house to be a beehive. The size of the bee colony and hive, which covered the entire inner wall, is not accurately depicted in the image below.
Water harm
Being aware of water damage can help you avoid spending thousands. Looking in potential water-damaged areas is crucial, especially if there are signs of an old roof.Look for any signs of water on the ceilings. The area around the water heater and under sinks should also be thoroughly inspected.
I advise checking for moisture around baseboards and along water lines on dry wall or block walls in areas where homes have basements.
Electrical and plumbing
The most important parts to check may be the plumbing and electrical systems. It's crucial to use a qualified home inspector and have a contractor examine the systems. Cast iron piping needs to be replaced in older homes in order for the plumbing to function properly.
Electrical knob and tube or buss fuses are another issue in older homes. An electrical upgrade or rewiring will cost thousands of dollars, which can quickly exceed a rehab budget.
For the above reasons, these items need to be evaluated prior to purchasing a property. But there are many more items, such as roofing, foundation, and other structural issues, that are critical to check, as well. For that reason, my suggestion to my clients is always to have a professional home inspection done.
For the above reasons, these items need to be evaluated prior to purchasing a property. But there are many more items, such as roofing, foundation, and other structural issues, that are critical to check, as well. For that reason, my suggestion to my clients is always to have a professional home inspection done.
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