Buyers go through many listings when searching for a new home. They read description after description to find their dream home.
Descriptions should highlight the property's best features. However, some phrases may be subtle warnings about potential issues.
Understanding which phrases to look out for is crucial for making informed decisions and avoiding unexpected problems after purchase. This article explores seven common real estate descriptions that might indicate underlying issues with a property.
Charming or Unique
Some listings describe a property as "charming" or "unique." However, these terms can mean the property has outdated features that may need significant updates.
"Charming" can also mean the house has certain quirks. Examples include unusual floor plans and uncommon fixtures.
Cozy
The term "cozy" is used to mean an inviting home. It can also be used to describe a small home.
For example, a "cozy bedroom" might not fit a queen-sized bed. A "cozy kitchen" could lack counter space or storage.
As Is
"As is" means the seller will not make any repairs before the sale.
Properties sold "as is" may have cosmetic issues. It can also have problems with its structure and foundation.
Sellers of "as is" properties could be unwilling to negotiate on the home's price or concessions.
Fixer Upper
A "fixer-upper" requires repairs or updates. These homes are cheaper than the typical home.
Fixer-upper buyers would need to spend money on renovations. The extent of work needed varies.
Common fixer-upper updates include new paint and flooring. Some also need structural work or utility repairs.
Other updates relate to environmental hazards like asbestos or lead paint.
Great Bones
These houses have a solid structural foundation. This includes a sturdy frame and hardwood flooring.
"Great bones" can also describe a home that needs updates to meet modern standards.
Motivated Seller
When a listing mentions a "motivated seller," it often implies that the seller is eager to complete the sale quickly. This is possibly due to personal circumstances or financial pressures. While this can allow buyers to negotiate a better price, it's important to approach such situations cautiously. A motivated seller could sell a home that needs updates or hopes to start a bidding war.
Home Has Potential
Lastly, a listing that uses the term "home has potential" often describes a property with outdated features and amenities or needs cosmetic updates. A home with "potential" might also have a desirable location, a large lot, or unique architectural features that require substantial investment in renovations, additions, or landscaping to enhance.
While these terms may point to concerns, that is not always true. As such, we recommend booking an in-person tour and checking the property.
