In all my years in real estate, I have often been asked by clients what I thought of a property, and whether they should buy. My short answer is that I am not the one who will be living in the home, or paying for it, so, I can't really make that commitment. I always review the info available so that my clients can make an educated decision.
I just read a blog post by Nick Vandekar, a Realtor in the Philly Main Line area. I think his post covers the above subject well, and doesn't need my restatement. Good job Nick. Here is what he wrote, and I fully agree with:
A client loved a particular home. They made an offer and their offer was accepted. It was an estate selling the home as is. Home inspections were arranged. Issues arose.
The home was riddled with mold. Water was getting into the basement. It was going to take extensive remediation to fix.There were also potential issues with the electrical wiring and the home inspector called for further investigation by an electrical contractor. However the inspector said the house was solid and had good bones.
The buyer arranged some further inspections and contractors to visit the house. Yes the wiring needed to be replaced, it was old and was not up to code. But nice house and well built said the electrician.
The contractor visited to look at the issue of water penetration, yes it would need some landscaping and some drainage issues to fix the water penetration. Well built house said the contractor.
Finally the mold remediation expert came by. He looked around and shook his head, it was going to take a lot of work to fix, but it could be done and the house was worth it as it was well built.
Now, the client was handy, the price was a deal for the area, the location was excellent, close to the buyers work, in a good school district, etc. But not once did an inspector or contractor say "Don't buy the house".
In conversation he was intrigued that not once did anyone question his purchase or advise him not to buy. Everyone mentioned how well built or what a great location or words along similar lines.
He was very surprised. So we sat down and said to him, it is your decision to buy or not to buy. Every expert is here to give you information so you can make the right decision for you. They supply you with the data, you make the choice. Not them. It is really irrelevant what they think about the house other than their specific area of expertise. Likewise, it is not our position to tell you to buy or not or what price to offer or pay. Only you can make that decision, we can supply you with the information, the data, explain it and help you feel confident in your decision, but at the end of the day it is your choice. You have to decide if you want to pay the price for the renovations, the remediation of the mold, the updates to the electrical system, the landscaping and everything else and if it is worth it to you.
They went ahead and they were very happy, they got a home in a great location, with excellent equity built in as the repairs were completed and they love their home. It was exactly what they were looking for and they don't regret buying the home, not even once.
But, don't expect anyone to tell you what to do. It is your choice when buying a home, we can all only give you the data and the information you need to make the decision.
Adam Tarr PC
Mav Realty AZ
480-236-7374
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