Are you buying real estate? Look at the whole enchilada

Are you buying real estate? Look at the whole enchilada.

Helping a part time investor this evening look at a house. The area is on an upswing. Houses around are selling faster. He is excited.

As an agent who has seen a few things, he asks what should I be concerned with? Look at it through the eyes of an investor who is buying for a long term hold. Here are some keys:

1. See what is around the property. What is the value of the homes adjacent and opposite side of street. What types of zoning are nearby?

2. Land… is it sloping? Where is the water going? How has the water impacted the improvement?

3. Vegetation – How old is it? Chattanooga has lots of trees. Trees provide shade but otherwise produce leaves, stopped up gutters, drains, roots rip up sidewalks, drives, foundations, etc.

4. Structure – Stand on other side of street and go to corners. Take a look at how the roof lays. Is there any swag or humps? Walls.. are the walls bowed at all?

5. Rust – indicator of moisture, possible flooding in basement, etc. Recently a buyer noticed rust on fireplace screen. Ventless gas log sets produce a lot of moisture as a by product of combustion. Something counter intuitive to many.

6. Cracks in sheetrock – May indicate roof loads that are not adequately supported by piers, among many other things.

7. Soft spots on floors near water, such as bathrooms, and kitchens. That is indication of past leaks and potential damage, possible termites.

8. Foundation cracks. Stair stepped cracks = mostly settling issues. Straight line cracks through block = something worth considering a structural inspection.

These are a few things I look at when helping a buyer with property. Good to be a detective to figure out the issues of real property. Are you buying real estate? Look at the whole enchilada.