Be ‘in the know' when purchasing a vacant-foreclosed home this winter

It's winter and it's cold! There are many houses on the market that are vacant, particularly homes that are in foreclosure, AND possibly, the utilities are turned off. Also, the plumbing systems are winterized in these homes. Rejoice in this because if they were not, then there would be a big mess of frozen pipes and damage to these homes.

You've been looking and have fallen in love with one of these ‘vacant-foreclosed-winterized-utilities turned off' homes so you have put in an offer AND it has been accepted. How sweet it is.

With your offer you've wisely decided to get the home inspected. This is an expense that you need to remember to budget for. It is important to be sure that all of the home's systems are up and running prior to the home inspection appointment. Make sure that:

• The electricity is on
• Oil is in oil tank and oil lines are bled(if applicable)
• Gas lines are on/tanks filled (if applicable)

And

• The plumbing system is de-winterized and re-winterized after the inspection

Also, it is important to find out: Will any of this be at your expense? OR at the owners/bank‘s expense?

• To de-winterize AND to re-winterize
• To purchase oil for tank IF it is empty
• To get the utilities turned on like gas and electric

If so, then budget for this too.

Knowing these things before-hand will help with the process of purchasing of a home in foreclosure... in the winter.

Good luck and have fun shopping!

~~~

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About the Author:

Marlene is a licensed Realtor for the Dan Sperduto Home Selling Team of Eastern CT. Please feel free to contact Marlene to find out more about the UNIQUE and successful marketing systems used by this award winning team of Realtors. To find real estate listings including homes for sale, search for properties from our agency AND from the MLS at www.dansperduto.com.

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