Majority of real estate foreclosures are offered on an "as is" basis, which means that the house will be in the same condition as the previous owner had left it. To determine whether a property is worth the money that will be paid to purchase it, a buyer should always conduct a thorough inspection. Aside from hiring a professional home inspector, there are other steps that a buyer can take to make sure that the inspection serves its purpose.
When to Pay a Visit
A real estate agent working for the lender or the bank selling the property will always try to present the home at its best. And of course, a buyer should never expect an agent to tell him the hidden damage or deteriorating condition of the property, it is up to him to find out how good or how bad a home's condition is.
If there is time, conduct an inspection at least twice. If the real estate agent conducted the viewing on a sunny day, go back to the house when it is raining. Buyers will not be told if the roof is leaking but he can find out for himself if he visits during a rainy day. He can also discover whether puddles form at the front door during rainy days and whether the drainage systems of these real estate foreclosures are working well.
Checking for Leaks and Mold
Visiting the property while it is raining will also make it obvious whether the ceilings are leaking. This could present a bigger problem since leaking ceiling will also affect walls, flooring and foundation. Replacing these areas of the house will cost thousands of dollars that can eat through a buyer's purchase budget.
While inspecting the premises, the buyer should also find out whether mold has damaged the whole place. Looking under sinks will be a great way to determine the true extent of the damage. Mold also emits a certain smell that any person will easily recognize.
Real estate foreclosures are great deals in terms of prices. However, home buyers should always spend some time inspecting the premises to make sure that the house is worth the money that will be paid for it.
Joseph B. Smith has been educating buyers on the finer points of Real estate foreclosures at ForeclosureDeals.com for over ten years. Contact Joseph B. Smith through ForeclosureDeals.com if you need help finding information about Real estate foreclosures.
Article Source: ArticleRich.com