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Some real estate transactions not worthwhile due to home flaws

Purchasing a home can understandably be an exciting process in New York. This is true whether one has been through the process before or is experiencing home buying for the first time. However, residential real estate transactions can be tricky for those who do not know what to look for in the houses they are interested in buying. There are a couple of problems to watch out for during the home shopping process.

First, if a door in the home is not closing properly, this may be a sign that the house has settled. Other signs of settling are a foundation crack or front steps that are uneven. All of these issues indicate that the foundation is uneven, which means water may easily enter the house, thus causing water damage. On top of that, concrete might have to be pumped into the home's slab -- a process known as mudjacking or concrete leveling. This is necessary to make the home level again and address the water problems.

Second, discoloration in the new home may point to a major problem: water damage. A quick glance at the ceilings and walls can tell a homebuyer if water damage may be a problem there. For instance, if yellow spots are on a wall that is white, this may point to a water leak. An odor of mustiness or mold in the home's basement may also point to water issues.

Buying a house can be complicated and overwhelming due to the many responsibilities associated with it. Unfortunately, a single mistake may cause a deal to fail altogether or may end up costing a homebuyer more money and time than initially anticipated. Fortunately, a qualified attorney in New York can help with the legal aspect of these types of real estate transactions to ensure that a homebuyer's rights are protected and that his or her best interests are promoted during each step of the home buying process.

Source: arkansasnews.com, "House hunters, be wary: seven seemingly small flaws may point to a money pit", Danielle Braff, March 11, 2018

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