FORECLOSURES

Foreclosures...The Best Reason For Inspecting

Foreclosures…the best reason ever to have an inspection!

Even in the best of time, there are foreclosures for sale in the home market place. In slow economic times they are more likely. They appear to be a great bargain but are actually a great mystery for several reasons.

Those reasons are basically the unknowns that create the mystery.

Why did the owner leave?
Did the property have an inherent hard-to-solve problem?
Was the owner upside down in his mortgage and gave up?
The reason could be exposed or perhaps not.
When he left, did he strip the structure or worse, did he damage or even worse
sabotage the components of the structure?

The prospective foreclosure buyer must also be prepared, physically, mentally and financially for the challenge of putting the structure back into condition.

Finally it is imperative that the utilities be engaged so that the inspector can provide you with a full picture of the condition of the property. The banks are typically not inclined to turn them on and this issue must be overcome.