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We've been considering a house (off and on) that has been vacant since 2008.
I am certain that the utilities have been disconnected on and off during that time, in all seasons.
The owners live out of state. They still haven't brought the price down to be in line with the comps in the area, and at this point, I feel that this house may be worth LESS than the comps suggest, due to potentially hidden problems from lack of upkeep.
How do these homes normally sell? Do they sell for lower?
What sorts of issues affect homes the most when they've been empty and the utilities have been off and on for years?
This house is in town, no well or septic concerns.
What sorts of issues affect homes the most when they've been empty and the utilities have been off and on for years?
the common theme of the various problems that can develop is water:
Both coming in from outside and breaking loose from where it belongs inside with the range of damages covering everything from the roof down to the foundation.
specifics will vary.
Quote:
Do they sell for lower?
that's a reasonable assumption... sure.
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In the current market though there is little reason to even consider a place like this especially in light of the owners price expectations.
If (when?) the owners come to their senses and lower the price enough to get serious... you'll probably be moved into a place with a lot less bother.
We've been considering a house (off and on) that has been vacant since 2008.
I am certain that the utilities have been disconnected on and off during that time, in all seasons.
The owners live out of state. They still haven't brought the price down to be in line with the comps in the area, and at this point, I feel that this house may be worth LESS than the comps suggest, due to potentially hidden problems from lack of upkeep.
How do these homes normally sell? Do they sell for lower?
What sorts of issues affect homes the most when they've been empty and the utilities have been off and on for years?
This house is in town, no well or septic concerns.
You know better...the home sells for market value!!! Have your agent look at the comps...determine market value...then offer less! If the sellers won't take it...wait to see if it stays on the market, make another offer or move on!!!
I find that homes that sit vacant for long periods of time seem to age! Strange, huh?!!
With no heat or air on, wood tends to age. Cabinets may need to be oiled or restained. Mouldings tend to bend. Nail pops are common.
Inspectors will notice any water damage issues.
Remember...a home that has been vacant just isn't being maintained. So if it is something you are considering buying, make sure your home inspector knows this. With our new due diligence contract, you'll be able to get all your inspections done and THEN decide if you want to buy the home. At that point, you'll give earnest money deposit, if you want to continue. If you choose to have those inspections done and then don't buy, you'll only lose your due diligence fee, which makes it easier to walk away.
With no heat or air on, wood tends to age. Cabinets may need to be oiled or restained. Mouldings tend to bend. Nail pops are common.
Inspectors will notice any water damage issues.
^^This.
Just make sure that not only are all utilities turned on for the inspection (Inspectors usually insist on this, but I have seen bad inspectors just put "Water was not on at time of inspection so water systems were not tested"), but also that the inspector knows that frozen pipes are a possibility, so they know to run the water for a while to make sure no NEW problems appear, rather than just looking for existing problems, and to check the water meter when the water is off and make sure it isn't moving.
As a side note, some utility companies require an inspection by the local municipality BEFORE turning on the electric/water/gas if it's been off a certain amont of time.
It might be worth your time to make a quick phone call to your gas/electric company to find out if this would be the case. It could really muck up the timing of a home inspection when you discover it takes weeks - and a lot of governmental red tape - just to turn on the power.
I also suggest that you put in your contract that the sellers are to have the water on at least one week prior to the inspection. Then ask your agent to go over there and run the water for 30 minutes or so and let everything drain and do that 2-3 days in a row. If there are any pipe issues the water will need time to seep through things.
The inspector I like to recommend has a thermal imager. I suggest you find a local inspector that can do a thermal scan of the home for you in addition to or as part of a regular home inspection.
I also suggest that you put in your contract that the sellers are to have the water on at least one week prior to the inspection. Then ask your agent to go over there and run the water for 30 minutes or so and let everything drain and do that 2-3 days in a row. If there are any pipe issues the water will need time to seep through things.
The inspector I like to recommend has a thermal imager. I suggest you find a local inspector that can do a thermal scan of the home for you in addition to or as part of a regular home inspection.
That's excellent advice and I also try to get clients to do this as well. If there are broken pipes/leaks the buyer can find out before the Inspector comes in and make a decision whether to continue at that point or not. It can save them an Inspector's fee if major issues are there.
As a side note, some utility companies require an inspection by the local municipality BEFORE turning on the electric/water/gas if it's been off a certain amont of time.
It might be worth your time to make a quick phone call to your gas/electric company to find out if this would be the case. It could really muck up the timing of a home inspection when you discover it takes weeks - and a lot of governmental red tape - just to turn on the power.
In addition to this requirement also make sure that if there is when the gas is turned on try to have your representative (Agent, or even yourself) there when the gas company comes. All gas companies will make a check of gas appliances before and after they turn the main on. If the gas company determines there are problems they should "Red Tag" the device or gas meter and leave a notice. If there are problems they will not activate the main gas line to the home.
Here is another way to have a quick check before the Inspector comes in. If there are significant issues you don't want to deal with you can cancel the inspection and save that fee.
Just make sure that not only are all utilities turned on for the inspection (Inspectors usually insist on this, but I have seen bad inspectors just put "Water was not on at time of inspection so water systems were not tested"), but also that the inspector knows that frozen pipes are a possibility, so they know to run the water for a while to make sure no NEW problems appear, rather than just looking for existing problems, and to check the water meter when the water is off and make sure it isn't moving.
At least once a year I agree to turn on a main water valve and plumbing fixture valves to remind me why I don't do it and insist that water and fixture valves are all on for the inspection. The last one that was not properly de-winterized, and water valves not activated before the inspection, was the worst one yet. Every single fixture was spewing water when I turned on the main water valve.
As it was pointed out above if the main water valve, and fixture valves, are turned on before the inspection it can possibly save the buyer an inspection fee if they had no desire to deal with extensive water leakage and fixture problems.
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