Purchasing a foreclosed home may be a way to get a great deal, but you need to be careful! Platinum Property Inspections suggests a thorough home inspection before you buy a foreclosed home in Prescott.
Foreclosed homes that have been abandoned or neglected for months, or sometimes years, often come with hidden costs. These unanticipated costs can quickly turn what you thought was a great deal into a money pit. Here are some important tips to consider if you’re in the market for a foreclosed home:
Resolve any liens. Many municipalities have regulations regarding the maintenance of properties. If a bank owns a property, it will usually keep a lawn cutting schedule, but if it fails to do so, the municipality may come in and lien the property for maintenance costs. Liens can be placed on a property by unpaid contractors, utilities, homeowners associations, etc.
Seek out information on the house’s history. Arizona law requires a property seller to disclose material facts about the property
Conduct a sewer scope. This is especially important for homes more than 20 years old. Sewer lines are often broken by tree roots. The lines may also be rotted, clogged, or damaged. Hire a plumbing company to snake a video camera through the line.
Above all, invest in a home inspection by a properly credentialed home inspector. For a very reasonable fee, a qualified home inspector can provide a complete report on the structure, mechanical and major components of the house and the property. A home inspection will give you a much better picture of what you are buying or give you the signal to walk away if it’s going to be too much to handle.
Before you buy a foreclosed home in Prescott, Platinum Property Inspections suggests a thorough home inspection. Call the experts at Platinum Property Inspections at 928-713-0889 to schedule your home inspection.