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Before making an offer, a serious buyer should investigate ownership records, liens, tax history, zoning and occupancy requirements, and any available permit information. Exterior clues can reveal drainage issues, foundation movement, roof problems, or neglect, but they cannot tell the whole story about what’s happening behind the walls.
For experienced renovators, that uncertainty may represent opportunity. For everyone else, the low price should be viewed as compensation for risk—not proof of a bargain. A realistic renovation budget should include a substantial contingency for problems that may remain hidden until work begins.
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