3 Reasons to Walk Away from a Deal
Most people realize the importance of needing a home inspection as buying a home is likely the biggest purchase you’ll make in your life.
For many, it’s easy to get wrapped up in the charm of a house or even the potential you imagine when looking at new homes, but the reality is once you get that home inspection report back there will be a few marks and possibly some that are worrying.
A report with a few marks is definitely enough to cause anxiety, but what you decide to do with the report will largely depend on your tolerance level. For some, they will stick around and tackle the problem while others would rather cut their losses and continue with the search.
However, there are red flags that both realtors and home inspectors agree on as signs to kill the deal and move on. If you come across these issues, you may want to think twice before proceeding.
1. (Major) Foundation Issues
Cracks and other irregularities in the foundation can be extremely expensive, upwards of $10,000, to repair. Aside from this, you must consider the fees for landscaping repair to correct the problem if an excavation is necessary.
While some foundation repairs are minor and may only cost you a couple of hundred dollars, you can only be sure after contracting a licensed structural engineer to assess the problem.
Many seasoned home professionals agree that first time buyers should avoid major foundation issues as they may lack the funds and experience to take on this problem
2. Polybutylene Plumbing Pipes
Much like shoulder pads and mom jeans, these plumbing pipes are a product of the ‘80s.
These pipes were initially favored as cheap alternative to copper, but are more likely to leak and could cause issues like mold, structural damage, or the headache that goes with a burst pipe.
Most homeowners haven’t replaced the pipes if they haven’t personally encountered an issue. Save yourself the trouble from having to deal with this potentially disastrous problem.
3. Buried Oil Tanks
While more common in areas with harsher winters, such as the Northeast, this American tradition is one that could haunt your home today.
Before electrical heating, many had underground tanks that sent propane to the house throughout winter. Obviously, there is a handful of possible problems that could come from this, but common ones are leaks (that lead to soil contamination), sink holes, and drainage problems. Much like the foundation issue, a tank removal will cost you well into the thousands.
Finding these tanks can be tricky, if they’re active, you’ll see two pipes coming up from the ground. If they were shut off, there won’t be any outward evidence.
Fix or Fold?
In the end, the choice to stop the buying process or decision to tackle the issues will be your decision. Your financial standing and how much you’re comfortable with shelling out will be the biggest factors.
This is just another reason why a home inspection is an investment for your future. Don’t hesitate to get in touch with us today!
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