Foreclosures can be the worst buy for your money.....

Foreclosures seem to be the "must have" of this Real Estate Market. Some Franchises are touting "FREE FORECLOSURE Lists", while others are offering tours. Is it any wonder that the Foreclosures are being looked at as the best deals on the Market? But are they really........

One of the main reasons I hear for people wanting to concentrate on Foreclosures are they think they are the best value, the cheapest homes on the Market. But many times they are cheaper for a reason. Banks don't have to give you a Disclosure like a regular seller does, and Banks are selling the homes "As is, where is" meaning they won't (usually) do any repairs except what is required by State Law.

Many people that are losing their homes have done damage before they left, and some of it is visual, and some isn't. My suggestion is to pay for a Home Inspection....by a licensed company that will tell you everything that might be wrong with the home. You don't want to save $25,000. only to have to spend $40,000 for repairs. And this isn't unheard of. Replacing pipes, air conditioners that have been stolen, and all sorts of issues you might not see. Especially if you are buying from an Auction, and might not have had a chance to do an Inspection before bidding. Be careful.....you want to make sure that the money you think you're saving you actually are.

My suggestion as a Real Estate Broker is to do your homework......find a Real Estate Agent that knows the area, and might even know the home you are interested in. I also suggest you find a qualified Home Inspector. In Riverside County CA where I work, we have a fantastic Inspector that I can give you the number if you want. No obligation information.......

No matter where you live, what State, there is someone that can help you with your Real Estate needs. Call an Agent and ask about available homes for sale in the area, just remember to look at more than just the price as it might not be the best deal for you.

By: Kathy McGraw REALTOR/Broker CELLing Realty in Riverside County CA. Call or send an e-mail for Foreclosure Information in the Banning, Cabazon and Whitewater areas. You can see other Foreclosure Information on my other Blog........http://CaliforniaRealEstateandLife.com