Short Sale, Foreclosure and Strategic Default

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Saturday, December 26, 2009

REALTOR® Magazine -Foreclosures - Buyer Cautions

These foreclosure warnings, function as a buyer checklist.

REALTOR® Magazine-Daily News-Foreclosures: Ten Reasons for Buyer Caution: "Daily Real Estate News | December 17, 2009 | Share
Foreclosures: Ten Reasons for Buyer Caution
Foreclosed homes aren’t always the best deal in town – even if they do come with a price tag that appears to be lower than some other homes in the neighborhood.

Here are 10 reasons why that is true, offered by Vince Mastronardi, president of On-Site Specialty Cleaning & Restoration in suburban Detroit.

No heat in the winter. When a home has been left unheated, buyers run a risk of damaged pipes.
Not removed but ripped. Thieves and even angry former owners can do a lot of damage when they depart with fixtures and key systems like heaters and air conditioners.
Peeling, bubbling, and discoloration. Water incursion isn’t always obvious, but these are signs.
Mold. Where there is water there is mold. Look inside cabinets, behind drawers, and around built-ins."

Buying foreclosures in San Diego

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