Must Know Conditions on Foreclosure Homes Before Buying

As tempting as it is to purchase a bank foreclosed home and save yourself tons of money, it is imperative that buyers become aware of the four most important physical conditions usually found in foreclosed properties.

First, always look for moisture-related problem sites. When you see visible leaks and obvious evidence of water damage somewhere within the house, you need to find out where it came from. Most of the time, water service will be turned off in the foreclosure property making it difficult to find the leak(s). Check for defective valves and hoses.

Many foreclosed houses are left vacant for quite awhile. Vandalism may have occurred. Make sure to check the property for missing parts...such as copper piping.

Look for signs of insect and rodent infestation.

With no water service, you may not know if the waste and swere lines are damaged or blocked.

Do not purchase a foreclosured property blindly. Hiring an expert, to check out any potential damage to the property, prior to purchasing a foreclosed property can save you thousands of dollars for repairs that may be needed.