We’ve all heard of or experienced the horror story of a new home purchase, rental property, or new move. The truth of the matter is that no one will ever be able to accurately predict every single unforeseen issue that may ever arise through the duration of a home investment. Although this is true, Nationwide Home Fax has continuously proven its value by informing anyone what it would be like to live, rent, or invest in any particular residential or commercial property.
Nationwide Home Fax is a new concept to the real estate market, providing valuable information services that precisely reflect a background check and preliminary home inspection for any potential purchase or lease agreement. Most people consider a home inspection through the process of purchasing a property, but many do not understand the various aspects that contribute to your overall long-term happiness, return on investment, and susceptibility of that purchase or lease agreement.
Have you ever experienced an unforeseen issue with the neighborhood you live in? The neighbors you live by? The condition and continuous maintenance to your new purchase? Even when you thought you knew all you could, chances are you missed something.
The concept and findings of each Home Fax Report reach far and beyond what most people would typically consider when purchasing a home. Although the possibilities are endless and the examples to share are never-ending, Nationwide Home Fax has provided a few real life examples of how we would have been able to prevent these horror stories for our clients and ourselves:
--The Unknown Structure
We conducted a Home Fax Report on a newer home built in 1994, close to an industrial factory, with a large one acre parcel. The distance between the home and factory, as well as the environmental conditions, was important, but what rested in the foundation did not compare.
After conducting a Pre-Inspection Analysis and Real-time Photographs of the residence, large 2”-3” separation cracks were observed at the base of the foundation, near the crawl space, on the East side only. One would typically expect a twenty year old concrete block foundation would not suffer from large “staircase” cracks. Through additional environmental research, Nationwide Home Fax discovered that the right side of the home, the East end where the structural damage was observed, was positioned on a flood hazard zone and wetland area.
The environmental records showed underground water was essentially running through the ground in the exact spot we observed the separation, and was essentially eroding the soil, and foundation, of the entire structure. It was only a matter of time before the home would require significant costs to repair, or would crumble beneath the unfortunate owner who did not make an informed decision and did not Know the Home Before You Buy. This example is extremely important, as it emphasizes the necessity of critical thinking and analyzing all findings in comparison to one another.
--The ‘Problem’ Neighbor:
Shortly after entering into a two year lease agreement on a lake house in a secluded rural area, we experienced immediate issues with our neighbor that led to an unhappy, stressful lifestyle in our new home. The home itself was great and the area was relatively peaceful, but weeks after moving into the home we began to experience problems that generated into safety concerns from our neighbor across the street.
Through talking with other neighbors (Neighborhood Contacts) we found out that he was best friends with our landlord and had a key to our home! He was one of those people who gave you ‘that feeling’, not to mention the criminal history that we uncovered, and the same was true for how our other neighbors thought living in the immediate area. The experience was extremely convoluted, with too much detail to specifically explain through this example, but needless to say, we were always conscious of the neighbor’s whereabouts, activities, and observations through the course of our two year lease agreement.
Had we of spoken to neighbors prior to leasing the property, we would have uncovered the common issues that each of them had with our ‘problem neighbor’ and would have chosen another property due to the unwanted stress and unhappiness that came from our constant negative interactions with this neighbor. Ultimately, we made little use out of the great amenities that came with the location due to this problem neighbor.
Nationwide Home Fax would have found this potential problem, and would have been able to inform the tenant prior to leasing. Our Enhanced and In-Depth Home Fax Report packages include Neighborhood Contacts (in-person and by phone), as well as Real Time Photographs, and Videography that include direct contact with the neighbors and community.
--The ‘Money Pit’
Recently, Nationwide Home Fax partnered with a real estate agent and investor who was about to pull the trigger on a property in the immediate area that was relatively inexpensive, $110k, for the amount of home and property for sale. The interior was recently remodeled, the home rested on almost an acre (in an area with an average of .2 acres per parcel), contained four bedrooms and three bathrooms, and was very attractive from an investment perspective, with a rental estimate of $1,200/per month.
We conducted a Home Fax Report, and found immediate issues with the home that raised concern through Building & Construction Permits, Real-Time Photographs, and a Pre-Inspection Analysis. Through the course of our research, we found there to have been an electrical and roofing permit pulled on the property approximately two months prior to our research. However, the permits were suspended before the work ever appeared to be finished or completed. After further research, it appeared that the owner had experienced unforeseen issues that led to an uncompleted process of the work, and termination of the projects and permits.
The property was re-listed from a conventional mortgage to a land-contract (meaning no mortgage available, and no appraiser to approve a loan) shortly after the permits were suspended. Nationwide Home Fax arrived at the property and observed large amounts of moisture damage to the roof, which appeared to be partially re-shingled, and two large electrical lines that were cut at the exterior of the home.
Expecting to see unfinished work on the interior, we instead observed what appeared to be a ‘new remodel’ to the interior, including: new drywall, carpeting, fresh paint, new furniture, etc. Needless to say, a home inspector (conducting a limited visual observation of the interior) would have been unable to foresee any potential issues with the electricity due to the limited scope and observation of their work.
The investor most likely would have purchased the property, but opted out after further research appeared to confirm our findings. The property that at first glance appeared so attractive was the next potential ‘money pit.’ Therefore, our client was able to make an informed decision, possibly saving in excess of $110,000. However, shortly after we were able to help the agent and investor make an informed decision, the property was unfortunately purchased by another individual who we were unable to inform.