Drainage Problems, Structural Damage... Sure, I'll Buy That!

There was a time, not so long ago…actually March it was March 2006 when a real estate buyer would completely overlook a number of different detriments to a property when they choose what and where to buy. As a result in this new buyer’s market, there are a number of people in properties that have less than desirable features such a no-yards, steep drives, drainage problems, extremely weird floor plans (I have a buddy that bought a house that must of at one point been used to host swingers parties) and any number of other aspect that compromise the resale value of their property.

I was reading in Broker Agent News this week an article entitled Help Your Buyers Avoid Re-sale Problems which listed a number of different items that typically get overlooked by clients that become infatuated with a property. Even though this is obviously not as big of a problem as it was last year, it is still good to point them out as you serve the best interests of your clients. The one item that was mentioned in the list which should act as a deal breaker is structural defects, unless your buyer has good an current estimates on the cost of repair.