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Answers (5)
- Damon Williamson, "RealtorDamon PRO"
- Contributions:165
Usually the houses on the market that long are for a couple reasons.
Priced to high for a long time or inspections continue to kill the deal because repairs are major.
If its the price issue and they have recently come down to a realistic price then you are fine but if its the repair issue then you can decide whether you want to spend the money to fix.
Hope this helps!
Priced to high for a long time or inspections continue to kill the deal because repairs are major.
If its the price issue and they have recently come down to a realistic price then you are fine but if its the repair issue then you can decide whether you want to spend the money to fix.
Hope this helps!
- knownmystic
- Contributions:2
Thank you for your replies -- they were really informative and helpful.
- Pasadenan
- Contributions:21450
Usually, if it has been that long on the market, it is "priced wrong", and the owners were really not anxious to sell.
If there are known defects, they are required by law to disclose them. It doesn't mean they will. Nor does it mean they will admit to knowing about them.
If there are clouded title issues, your agent should already be checking into that and informing you. Of course, that is also what you pay a title company for, and why you buy title insurance.
If there are known defects, they are required by law to disclose them. It doesn't mean they will. Nor does it mean they will admit to knowing about them.
If there are clouded title issues, your agent should already be checking into that and informing you. Of course, that is also what you pay a title company for, and why you buy title insurance.
- Chris Creed, "Santa Monica Realtor"
- Contributions:30
If everything comes in fine with the inspection then you will be good to go. As far as selling the home in the future I don't think that this will effect the next buyers decision. Especially if you fix it up. Curb appeal really sells a house and by improving that you can improve your chances of selling the home quickly. I definitely recommened a good inspector.
- Naima Sumner, "Dallas Ft. Worth PRO"
- Contributions:2847
There has to be a good reason for the home to be on the market that long. That is pretty excessive for Irving. If you get a good deal and can change things that are negative about it, then go for it. If it's a location, there's nothing you can do and you will experienced the same problems the current owners are when it's time for you to sell.
Make sure your Realtor does a market analysis on it so you don't overpay.
Naima
Make sure your Realtor does a market analysis on it so you don't overpay.
Naima
Buying a house many days on market - Potential Pitfalls?
We are thinking of putting an offer on a house that has been on the market for close to 400 days. We were wondering if that could result in potential problems while we try to sell the house in the future. We know that buyers can request information about past sales of the house from a realtor and we were wondering if it would negatively impact the history of the house. The house is not in bad shape -- it just doesn't show well and we plan to fix it up real nice. Of course, we won't know of any other problems till we do the inspection. We plan to walk out if there any big problems. We were wondering if it's a good idea to consider buying it, if everything came up fine in the inspection. Please advise. Thanks!
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