When someone tries to sell their home, they do not always tell the whole truth. Although a professional inspector would pick up on any problem, it is expensive to hire one for each viewing. So, here are some red flags that you can look out for that could tell you to avoid the property.
First and foremost, check the neighborhood. This is of absolute vital importance. The community is either growing and decline and you need to find out which one it is. If there are many foreclosed homes and businesses, the community is going through tough times. Make sure you visit the area on two different occasions. In doing so, you will also become aware of traffic. Make sure you come during an evening once as well, so you can find out whether there is any noise pollution or traffic problems when it is supposed to be quiet. Contact the police as well and ask them for crime statistics on the local area.
Secondly, you need to know whether the property you are buying is a regular sale, a short sale or a foreclosure sale. Although it is true that these are the cheapest properties, they are also often in poor condition and in bad neighborhoods.
The reality is that you are the only one who can decide whether or not to buy a property. Also, homes with problems are often available at much cheaper prices. On the other hand, if you then have to pay even more money to fix it up, or if you can never sell it again, then it was a waste of money. Homes, whether purchased as an investment or not, are places for people to live in, which means they have to be inhabitable. Although it is certainly true that you should look into the condition of the actual property, focusing on the neighborhood is equally important. All you really have to do in order to find out whether the property itself is any good is hire a property inspector. This is different than a neighborhood inspection, which really requires a personal opinion and feel, something that only you can do and decide upon.