What are some of the RED FLAGS that may stop you from buying the home you want in the Bay Area? It has become a norm that property comes on the market, seller completes all disclosures and reports. Buyer reviews the reports, many times not knowing what they are reading or what it meant to them from home ownership standpoint. Offers are submitted to purchase the property AS-IS and in its present condition. One of the buyers wins the bid and depending on the level of risk the buyer took, he may or may not be happy with the purchase. Seller, if not letting the buyer know everything they know are taking risk of later law suits if any material facts were hidden from the buyers.
First Red Flag is Requirement of the FURTHER INSPECTIONS. Further Inspections may be required due to multiple reasons. Most of the time it is due to inaccessibility of the area to be inspected. They may include, situations where seller has put a lot of stuff in the garage and inspector can not walk around free to inspect the garage. It may be related to the way the foundation is built and inspector cannot go around the structure to inspect the other side of foundation for foundation issues as well as issues related to pest control. Many times the attic area cannot be inspected because inspectors cannot crawl or walk inside the attic unless some ceiling wooden planks make it easier to get around.
The next red flag for me is the various pests like termites, rodents. They can be either dry wood termites or sub-terrainian termites. The home you love is also loved by these creatures and you may have a company when you move in. Treatments for the dry wood termites and sub-terraininan termites are different and vary widely. Several other Red Flags exist during the real estate transaction process, listen on to know what they are.