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Condition of a Property: How it Affects your Offer
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Tuesday June 3rd, 2008 / Modified: 08/12/08
Once you find a property that you are interested in, there are many things that you must consider before making such a large purchase.One of these considerations is the condition of the property.Is it in great shape and above average for the area, is it just average or is it in poor condition?Your offer on this property should be relative to its condition.Take time to evaluate the home in detail.You might love the location, or the space in the kitchen, but none of that matters if hidden beneath the surface are thousands of dollars in repairs.
Structural condition is the most costly type repair in a home.Items such as walls, ceilings, floors, doors and windows should be squared off and crack free.Large cracks going through the floor or ceiling could be a sign of structural problems.Take special care to check bedrooms and bathrooms to ensure the plumbing and electricity are in good working order.Also, check light switches, doorknobs, drawer handles making sure they are secure and in good condition.
After evaluating the inside and outside of the house and checking on the property's estimated value according to the market analysis, consult your real estate agent for advice. The two of you can come up with an offer that you feel good about.By educating yourself and taking the time to really inspect the house you could save yourself money and heartache.
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