In regards to real estate sales, there are many things that could potentially come up as problems. Some of the most common things that could go wrong during a Maine real estate sale include incorrect home appraisals and faulty home inspections. Both are expensive mistakes in any real estate transaction.
Incorrect Home Appraisals
The most common problem that occurs in terms of real estate sales are incorrect home appraisals. Incorrect home appraisals can bring about a host of problems that include the buyer expecting a home that they later find out is not what they expected. If a home appraisal is incorrect, the buyer might lose out by paying too much for an incorrect appraisal or the seller could lose out because they are just not aware of the actual correct appraisal price. It is always advised to get home appraisals from several different companies in order to get the correct appraisal and not run into a problem as a buyer or seller in the real estate market.
Faulty Home Inspection
A faulty home inspection is similar to an incorrect home appraisal in one sense, but it also has the effect that it could add to a much bigger problem down the road if not verified. If a faulty home inspection occurs, a real estate sale could be at risk tremendously. Many home inspectors do not find things that are detrimental to the home itself; they might overlook a roof leak. A roof leak is actually one of the most overlooked problems that go unseen by home inspectors. A roof leak that is not noticed early one could end up being a very expensive problem to fix in the long run if you are a buyer and even if you are the seller.