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How reviews play a role in due dilligence

Erica Muller Orlando, FL

November 14, 2018

Buyers should always read the reviews of the property and look for: 

- Any complaints related to structural issues affecting the house.
- Any complaints or issues related to the furniture or other inventory in the house. 
- Any complaints related to the neighbors or community in general

Making sure to look into these issues and address them during your due diligence is imperative as these issues will not always be listed on a seller's disclosure. 

Comments

Cyndee H. Madeira Beach, FL

Jan 28 2019, 10:56 PM

Great points Erica - I always advise buyers to search online and read reviews because whatever is negative will surely have been written about.

For example, one condo community on the beach here is next to a Bird Sanctuary and so that side of the building in the warm month smells like a zoo and makes sitting on the balcony unpleasant and historically that side has sold for 25% less than the other side of the building where no smell is present. I am always surprised when I see a buyer overpay when purchasing on that side of the building and they obviously didn't have a knowledgeable agent on vacation rental properties.  

Also in our area where many condos were built in the 1970s they are at an age where major work can be needed and not buying when the building will be under reconstruction for an extended time is important too 


Matt M. , CA

Feb 05 2019, 04:30 PM

I focus more on the 3 star reviews. It seems like everyone just gives 5 stars these days out of habit and one star reviews can be skewed from an outlying poor experience. Generally the 3 and sometimes 4 stars give a bit better insight on the reality of the rental and the suggestions made are more often quite genuine. It's also these suggestions that can help you find value in service and/or repairs when buying a property as well.

Matt Malouf

Author-Adventurepreneur