There’s definitely something to be said for older homes. They have a certain charm, a certain sense of permanence and nostalgia associated with them. They can even be quite beautiful. But they often come with hidden hazards that you should be aware of, especially if you’re looking to market those properties for sale. Some of these issues can be hard to spot, and some can be a pain to to handle when there’s ongoing maintenance involved.
A few such problems to keep in mind when selling an older property include:
- Lead-based paint (a serious concern for any property built prior to 1978)
- Cracks in the foundation
- Lead pipes
- Ungrounded outlets
- Outdated appliances
- Old, faulty wiring
When dealing with an older home in the REO market, these are definitely things to be aware of when scoping for REO repairs. Older homes should be treated respectfully, but with caution.