THE CONDITION OF THE PROPERTY
In assessing a home for potential purchase, there are important items to be on the lookout for — the primary one being the condition of the property. Is the home structurally sound? Walk around the home, checking the walls and ceilings for cracks. Hairline cracks are to be expected in some places. Check the exterior for cracks. Cracks could be a sign that the property is not structurally sound. Points at which extensions join are places to look, as cracks often occur there. Also look for loose or broken tiles on the roof or broken guttering, evidence of damage to the drywall and weaknesses on the floors. It is acceptable to ask how long it has been like that, and whether it will be fixed. If you see major cracks or bowing walls, have a structural engineer assess the situation. Look and smell closely for evidence of mold. Mold and mold damage are major problems that may cost you a lot to clean and repair. Do not just look for it — use your nose as well. Mold frequently gives off a musty smell, even when there are no visible signs. Inspect all crawl spaces, basements, and walls. Plaster that is flaking, watermarks on walls or ceilings, or even a fresh coat of paint in part of a room could be indications of mold. Check the ceilings and crown moulding properly for evidence of leaks or water damage. Ensure heating, air-conditioning, and electric is in good working order. Have an expert assess that heating, air conditioning and electrical units are appropriate models and capacity, and working properly. Check the electrical panel. It should not be old or outdated, must be easily accessible, and in good working condition. Ensure wiring was done properly. You do not want to spend a fortune removing knob and tube and rewiring the home to bring it up to standard. Consider if there are enough power 33
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