Angela May's Omaha Nebraska Real Estate Blog: Looking for a Foreclosed Home? Be Ready to Clean!

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Angela May's Omaha and Offutt AFB Real Estate Update Blog

Angela May's Omaha Nebraska Real Estate Blog
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Monday, June 11, 2007

Looking for a Foreclosed Home? Be Ready to Clean!

Foreclosures may sometimes seem like a great deal, however, once you factor in all the cosmetic work and hidden repairs (that usually need to be done prior to occupancy), the price sometimes isn't as good as it seems...not to mention hidden issues that can be costly. In most cases foreclosure homes are sold "as is" with no repairs - the occupant can do their own inspection prior to purchase risking the loss of the inspection cost (about $300-400), but that's a small price to pay in comparison to finding a major issue after occupancy!

Don't get me wrong, there are sometimes some exceptional deals with foreclosures. In my opinion the two main key factors are;

1) Have a quailified home inspector give the house a thorough inspection prior to purchasing so there are no unpleasant surprises, and

2) Prepare to have liquid cash up front to make the home liveable prior to occupancy, i.e. new carpet, paint, repairs, appliances, cleaning, etc. -- Angela

Daily Real Estate News June 11, 2007

Buying a Foreclosed Home? Get Ready to Clean

Owners of houses in foreclosure often leave them in poor shape, including abandoning desperate pets and rotting garbage, say properly inspectors and real estate professionals.

"It's almost every day now that we see a [foreclosed] house in awful condition," says Scott Mitchell, president of National Property Inspections, a company that provides home inspections and assessments in the Las Vegas area. "They know they are going to lose their house, so they have no pride of ownership anymore."

He says some home owners will leave the water on so there's flooding and mold, or they'll tear the chandelier or the ceiling fan out of the ceiling. He's also seen doors and walls kicked in, making it easy for bugs, rodents, and other critters to take over the home.

Pets are often the real victims. In May, authorities found 23 abandoned animals in a house in Lake Carmel, N.Y.; three pigs trapped in an Oregon home; 20 birds in a Lorain, Ohio, house: 24 horses on a Bixby, Okla., property; and more than 60 cats in a house in Cincinnati. All of the properties were in foreclosure.

Source: BusinessWeek Online, Maya Roney (06/07/2007)

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# posted by Angela May @ 6:49 PM

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About Angela May's Omaha and Offutt AFB, NE Real Estate Website: The web site provides Omaha, Papillion, Ralston, Lavista, Bellevue, Dundee, Millard, Elkhorn, Gretna, Council Bluffs, Carter Lake and Offutt Air Force Base, Nebraska real estate information and resources to guide homeowners, homebuyers and real estate investors through the process of selling and buying a house, condo or other realty property in the Omaha and Offutt AFB area. Angela May (Sometimes spelled as Angel May, Angel Mae, Angela Mae, Angie May, Angie Mae, Angle May, Angle Mae, Angla May, Angla Mae, Angie May, Angie Mae, Angi Mae, or Angi May) has services to help you get the best value for your Omaha and Offutt AFB home and this website offers home buyers and home sellers a superior comparative market analysis (CMA), a way to view real estate and MLS IDX listings including virtual tours, prepare your home for sale, and more. Investors looking for real estate investment properties to invest in need look no farther. Anyone selling a home, buying a home or seeking housing can learn more about our realty services, and will appreciate working with a  Omaha and Offutt AFB REALTOR who knows  the area so well. Through trusted partners, we also provide real estate and financial services to consumers looking for houses for sale or selling their home in Omaha and Offutt AFB, NE, such as mortgages, credit history, new homes, foreclosures and other services. If you've already tried to go the for sale by owner (FSBO) route and find you are needing a partner who you can trust in the sale of your most precious asset, Angela May can take care of your special needs. It really doesn't matter if you spell it REALTOR, Realator or Realter, realty, realety or reality, real estate or realestate, Angela speaks  your language.
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