Read the water heater label
Find the tank and read the manufacture date. Past ~12 years, a water heater can leak any day. Look for rust at the base.
Open the electrical panel door
Check the brand, Federal Pacific, Stab-Lok, or Zinsco are worth flagging, and note the service size on the main breaker.
Glance at the pipes and outlets
Grey plastic pipe may be poly-B. Two-prong outlets mean no ground; kitchens and baths should have GFCI test/reset buttons.
Walk the outside
Watch which way the ground slopes, toward the house is a drainage problem, and eyeball the roof for curling shingles or moss.
Bring a fridge magnet
It sticks to galvanized steel but not lead, a two-second test on the service line and supply pipes. And use your ears while you walk: house noises that shouldn't be ignored decodes the bangs, gurgles and hums. Anything you spot on this list is worth running past the insurance pre-check before you remove conditions. New to buying? Start with the first-time home buyer guide.