Purchasing a foreclosed home can save a buyer money, and it can be a smart investment. Before you begin your journey of buying foreclosed homes, contact an experienced real estate agent who specializes in Foreclosure Property in Freeport NY. By speaking with an agent and following the tips below, your foreclosure buying experience will be a positive one.
* Don’t purchase a foreclosed property until you’ve seen it inside and out. The price may seem like a good deal, but if the home needs extensive repairs, you may not want to put that much money into the property to make it livable. If you aren’t able to view the property in person, ask a relative or friend to look at the property for you and take photos.
* When viewing a foreclosed home for sale, make a list of all the repairs that need to be done. After making the list, speak to a contractor to find out how much it will cost to make the needed repairs. If you’re planning on doing the repairs yourself, figure up how much money and time it will take you to fix up the house. If the cost of the repairs is more than your budget allows, ask a real estate agent if there are other homes in your price range.
* If the foreclosure has been without occupants for several months or years, carefully inspect the home for damage that can occur due to no occupancy. A plumbing system that hasn’t been used for an extended amount of time can develop problems, such as backed up sewer gases and dried out plumbing seals. Inspect the home for bugs, rodents and damage caused by small animals. The gutters will be clogged, so carefully look for water damage on the roof. If you don’t want the added expensive of repairs for an unoccupied house, an experienced real estate agent who specializes in Foreclosure Property in Freeport NY can show you homes that have been lived in recently.
Mahler Realty is an experienced real estate service with a variety of listings of residential and commercial properties for sale including foreclosures. Click here to contact the company and to search their properties for sale.