Steer Clear of Expired Listings if They Have These 3 Issues

When searching New York for expired listings leads, make sure to not jump at the first opportunity. The goal is to sell houses, yet you don’t want to get stuck with a listing full of problems that have buyers walking out the door without a second thought. These are three issues to steer clear of when looking at expired listings: 

Foundational Issues

Having a few cracks here and there is nothing to sound off alarms about; however, if you’re noticing cracks in every room larger than a hairline, proceed with caution as this can indicate problems with the foundation. Other areas to focus on to check the foundation are doors that don’t close smoothly or flooring that seems uneven. Fixing the foundation is expensive and time consuming which will have buyers running for the hills. 

Water Damage

Water damage can stem from an array of problems can lead to further complications. A leaky faucet, poor drainage, and water stains are all signs to note. Check ceilings, bathrooms, and even the exterior of the property. For apartments and condominiums, be sure to check where the rain gutters and water spouts are placed and look for signs of rust or other damage. Also be aware of musty odors as that could indicate internal complications such as busted pipes or mold/mildew.  

Poor Windows

Windows are another pricey item to replace so it’s important to check the condition of these. Take a look at the frame and make sure the windows open smoothly. If you experience problems opening, it could be a sign of foundational issues or poor installation. Windows are also essential to the heating and cooling of your home which will be apparent on your utility bills.

Thoroughly checking these 3 items prior to taking on a new expired listing in Brooklyn or Manhattan will both help you sell the home faster and do your future buyers a favor in the long run. Do you have other red flags you look for when acquiring new expired listings? Tell us!

*ExpLiMO provides high quality leads on a daily basis and offers a unique opportunity for Manhattan and Brooklyn real estate agents to prospect for expired listing leads and grow their business exponentially.