Don’t let the sparkle of a property sway you into a purchase! If you look closely, you might find a bright red flag that can indicate bigger issues later on. Being meticulous in your search can pay off big time as long as you don’t get tripped up by one of these red flags.
Red Flag #1: That listing price is too good to be true.
You love the look of the home and the price is well under fair market value. You think, “We just hit the jackpot!” Slow down, take another look, and question why the price is so low. A low listing price with an otherwise great-looking listing can point to big problems the pictures don’t show. This could mean big repairs, hidden issues in the walls, sewer problems, or other costly fixes.
Red Flag #2: The property can’t seem to stay on or off the market.
Language such as “back on the market,” can be a red flag. It’s not always an indicator of big issues, but it certainly can be. Use tools like Zillow's price history on the listing or ask your agent how many times the home has come off and back on the market. If there’s a pattern, there’s more than likely some type of hidden deal-breaker. Check all of your boxes by getting a thorough home inspection before buying.
Red Flag #3: Where are the interior photos?
No pictures of the inside? RED FLAG. Interior photos are meant to showcase the home and its selling points. When there aren’t any pictures, you should be asking about the state of the home. If it is a brand-new listing, give it a couple of days. But if its more than a week old, start asking questions.
Red Flag #4: Several homes in the neighborhood are for sale.
If there are several homes in the same neighborhood for sale, you might want to ask why homeowners are leaving. Vacating a specific neighborhood could indicate a variety of issues such as an uptick in crime, increased taxes, or development opposed by residents. Make sure you ask around and ask the right questions before purchasing.