It’s no secret that Malibu is an enticing place to buy real estate, especially if you’re looking for a beautiful area in which to raise a family, retire, or anything in between.
Unfortunately, the real estate market here is also quite competitive, which means that finding Malibu houses for sale that meet your criteria and budget can sometimes be a challenge. As a result, when buyers do find a home that might be “the one,” they’re pressured to make an offer right away before it gets snatched up by another buyer.
Still, while it’s important to move quickly on Malibu real estate, there are some potential red flags to be on the lookout for that could indicate a home deal is too good to be true.
Abundance of Neighborhood Malibu Houses for Sale
One of the biggest red flags to be on the lookout for is an abundance of other Malibu houses for sale in the immediate vicinity of the home you’re looking at. The other homeowners in the area might know something you don’t, which could be leading them to flee the neighborhood. Perhaps a new industrial development project is coming to the area and is expected to cause home values to plummet, or some other negative change is coming to the area. This is something you’ll want to be on the lookout for as you shop.
A Surprisingly Low Asking Price
Does the asking price on the home seem too good to be true, especially in comparison to nearby home values? If so, then there may be a hidden problem, such as a major maintenance issue with the house, that you don’t know about.
Seller Asking You to Forego an Inspection
Going off the last point, you should always have a professional inspection done on any home before you decide to finalize an offer and close on the property. This way, you can enjoy added peace of mind in your investment and be made aware of any potential problems before you buy. If, for any reason, your seller wants you to buy the house “as-is” with no home inspection, this should be enough to send you running from the deal.
Random Areas of Fresh Paint
Painting the inside of the home a neutral color is one of the easiest and cheapest things a seller can do to increase the chances of selling and appeal to buyers. However, you should be skeptical if you notice random areas of fresh paint in a home (especially along perimeter walls).
For example, a room with just one freshly painted wall could be a sign that the sellers were trying to cover up a problem, such as water damage or even mold.
As you can see, there’s a lot to be on the lookout for as you shop for Malibu houses for sale. Above all else, go with your gut instinct. If something seems too good to be true, it probably is. Of course, having the right Malibu real estate agent to guide you along your home-buying journey can also help you make the right decision.