Buying a house is a huge investment, and often the largest purchase you’ll make in your lifetime, because of this, you’ll want to make sure to avoid some common red flags during your home buying journey. Unfortunately, many red flags in real estate are often overlooked, unseen, or buyers are simply not aware of the red flags that they should be keeping an eye out for. Luckily, many of these red flags will be within the online listing and thus something that your agent should be able to warn you of, however, it is important to keep in mind that online listings don’t always paint an accurate picture of the true condition of the property you’re hoping to tour. Here are some common red flags within online listings to be aware of.
Red Flags in Online Real Estate Listings
No Interior Photos
Quite possibly the most common red flag is when online listings don’t contain any interior photos. Generally, this means it is because the home is not in a “showable” condition. This could be a for a large variety of reasons ranging from clutter to mold and even damages that would require lengthy and expensive repairs.
It is no secret that you can do a LOT with photoshop now a days and that rings true for real estate photography as well. If a photo looks too good to be true, looks as if the lighting has been altered, the photo has been stretched, a fisheye lens was used etc. they are generally compensating for something, and the actual home will look far different from the photos.
Low Asking Price
If it seems too good to be true, it probably is. Unfortunately, lower asking prices, or prices that fall far below market value are due to some sort of damage or repair within the home. Should you find a listing with a low asking price, make sure to inspect the “why” before getting your hopes up and jumping on the listings or placing an offer immediately.
Back on the Market!
In some cases, this could mean that a previous offer simply fell through or the buyer changed their mind, however, it could also mean that the buyers uncovered something about the property that wasn’t appealing or worth the investment. This could be things such as mold and mildew, outdated electrical, damaged roofing, structural or foundation issues, etc. If you want to pursue a listing that’s back on the market, make sure to hire a reputable inspection company and don’t be afraid to dig through the finding with a fine-tooth comb or ask the seller to make repairs.
While in some cases, these red flags could simply be due to poor advertising, it is important to take them with a grain of salt and inspect any and all red flags prior to placing an offer or setting all of your sites on one singular listing. When in doubt, ask your agent if they see any immediate red flags with the listing, after all, your agent is there to help you find your dream home! Ready to start your homebuying journey? Contact our office today!