• Foundation. Looking from outside the house, does the house appear to be solid, square, and free of cracks? Missing or out-of-place cinder blocks or bricks could be indicators of wider structural problems that disqualify the property from further consideration. Why buy a building with such obvious flaws?
REMEMBER!
A sagging roof is a sure sign of structural problems. Unless you are in love with the property, don’t even consider it.
• Exterior lighting. Is it in good condition? Was it installed to beautify the property? Or was it installed for security purposes like lighting a dangerous alley adjoining the building? While it is not a sure indicator, security lighting can be a tip-off that the building is in a high-crime neighborhood.
• Sidewalks, driveway and masonry. Are they in good condition, or cracked and in need of replacing? Are they in such poor condition that passersby or tenants might fall, leading to lawsuits against you later on? Are there low areas where water will pool in cold weather and freeze into treacherous pools? Remember: Masonry work is surprisingly expensive. If a property needs it, get cost estimates before you make an offer to buy, and use those estimates to bargain on a selling price. At the very least, budget these expenses into your projected expenses.
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