Part 2: Considering Buying A Foreclosure? Then Consider These Points

April 9, 2009

As promised yesterday, here are some more things you will need to know if you are considering buying a foreclosure. Make sure to check yesterdays points to condsider if you have not already read them.

HLN money expert Clark Howard says, "The key to saving money is you don't look for a house that looks perfect, you look for a house that's a perfect deal that you can fix up for not too much money. You do that and you are going to save yourself a ton."

Considering Buying A Foreclosure? Then Consider These Points:

Be ready to not see some things: What are you talking about, you may be asking? Well, many times owners who are being foreclosed on try to salvage or sell off everything in the house that they could make a little money on. Most of the time this means the appliances are gone- the fridge, oven, stove, microwave, washer and dryer. I have walked though foreclosed properties where the previous owner has even taken out all of the lighting.

Make sure to get a home inspection by a professional home inspector: This may be my last point- but the most crucial point I have to make! I tell all of my buyers to make sure to have a professional home inspection done. Yeah, you have to fork up a couple hundred dollars to pay the home inspector but it is probably the best use of your money. They will let you know what kind of shape the property is in. They will point out any specific things that will need attention and can give you an idea if the house will end up being too much of a liability for you or if it's a good deal.

Take a look at my market report for today!
http://www.ryanvaught.com/chicomarketreport

Currently Ryan has about 30+ listings in inventory, and has already sold 14 homes in 2009. Please don't hesitate to contact me with any questions about Chico area real estate.

Interested in learning more about the Chico area or Ryan?
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