Jackpot! You just purchased the house of your dreams, in the perfect location. Since it was a short sale, you got a steal of a deal. It just needs a little TLC. Or does it?
On the surface, you may think you made a great purchase, but an experienced short sale agent can offer a lot of insight on what you are really getting yourself into before you sign your life away.
Below are five reasons not to purchase a short sale without bringing an agent into the picture, courtesy of “Monday Pit.”
#1 Original doesn’t always equal awesome
We often hear people brag about “original” this and that when buying an older home. While keeping a house’s original features can add some historical charm, you need an experienced eye to spot which originals from the past will hold up in the future.
#2 Termites and Rot
Just because the hardwood looks great after a little polish, that doesn’t mean there are no problems below the surface. Termites, rotting wood and water damage can lead to future problems hidden at the time of purchase.
#3 Basement does not mean bonus room
While a basement can be a great asset to a new home, not all basements are livable space. In coastal areas, such as New Hanover, Brunswick and Pender County, flooding and mold are common problems you need to look into before trying to make your dreams of a man cave or a guest suite a reality.
#4 The expensive problems are hidden
The most expensive upgrades may not be out in the open. Plumbing and electrical problems are often hidden in the walls, floors and underground. When unattended, these problems can put a huge dent in your bank account. An experienced agent will know what to look for and who to contact to check for other potential problems.
#5 You might end up looking like this
While DIY projects may seem a fun and creative piece of cake in the beginning, you can quickly become overwhelmed once you realize just how many projects you’ve taken on at once. An experienced agent can bring these projects to light before they become your responsibility.
The bottom line is this: While a short sale can be a great investment, it can also be a huge undertaking. The best way to ensure you are making the best decision for you is the involvement of an experienced short sale agent. A good agent will have your best interest in mind. They know what to look for and how big of an undertaking you are getting yourself into. Yes, you may be able to find a good deal on your own, but taking that route also increases your chances of getting stuck in your own money pit.
For an experienced short sale agent in Wilmington, Leland, Hampstead and surrounding eastern North Carolina areas, contact Nilesh Jethwa at 910-622-0319.