The banks are holding thousands of foreclosure houses. Some are in terrible shape. So before you consider buying get a full disclosure addressing any mold problems. You might not be getting a bargain after all. House Refinance Center for more information.
Foreclosure homes are property owned by lenders and banks as a result of the previous owner defaulting on a loan. These homes can be cheaper in many cases when compared to previously owned and new homes. Though cheaper, these homes can come with problems of their own, one of which is mold infestation. Saving money is almost always a smart move and many home hunters will consider buying a moldy foreclosure home in an effort to save money. This is a bad idea for more than a few reasons. Read further to know more.
When buying a moldy foreclosure home with the intention of saving money, you have to consider remediation costs for mold elimination. The remediation cost can go up to as much as 6000 dollars when mold reaches the attic and the air ducts of a home. Spending this much money may not seem like an attractive proposition for new homeowners who are already burdened with the purchase price of the home or are considering remodeling and renovations. One must also take into consideration the chances of a poor mold elimination job which means that your new home is still moldy and continues to be a health hazard.
The medical bills associated with the various ailments caused by mold are far too great to take the risk of buying a moldy foreclosure home. Health and hygiene are of paramount importance and health concerns can’t be ignored for the sake of a few thousands or hundreds of dollars.
Thinking Of Buying A Foreclosure Home With Mold: Think Again
Green Scene Home Inspections take you on a tour of a home on sale to understand how a professional home inspection and can save new homeowners thousands of dollars on renovations and repairs on the home they just purchased for a neat sum of money. Real Estate is expensive and a smart purchase almost always calls for the assistance of professionals in the field. In this particular instance, the narrator in the video tells you exactly how the seller is concealing vital information about major foundation problems with what may seem like an impressive cover-up job to the untrained eyes.
Fresh Paint Hides Nothing
To the layman, this house with its fresh coat of paint on the exteriors and new window fittings may seem like a smart buy but the home inspector quickly tears that illusion apart. The home inspector is experienced and trained to look underneath the surface and during the course of the video points out major problems with the property on sale. Without the services of a home inspector, it’s easy to imagine how potential buyers wouldn’t be able to look past the cosmetic features of the home.
The home inspector quickly unearths hidden faults like a major foundation problem, cracks at the base of the home and plumbing issues among others. If you were a potential buyer for this home, it’s easy to see how valuable the expertise of a home inspector would be to you considering the unfortunate fact that sellers proactively hide issues on the property from potential buyers.
Homeowners of Grace Magnolia Sub-Division off Highway 31 near Spanish Fort have much to say about the shoddy construction work followed up by plain disregard for residents’ complaints by D.R. Horton builders in the area. Their grievances have been loud and clear and have even been voiced on the local news channel. Homeowners here are angry and frustrated and for legitimate reasons. Unfortunately the builders at D.R. Horton have paid no heed to their grievances thus far.
Among a host of problems here are marshy yards that seem to pose a serious hazard for residents and their children. The sight of soggy yards with the consistency of quicksand adequately supports the veracity of their claims.
Different homeowners have different sets of problems but the common complaint all of them have is bad planning and shoddy construction. Sewage issues are on the rise and raw sewage backing up in multiple bathrooms is a source of annoyance and inconvenience for homeowner Christy Bush. A warping patio ceiling and water seepage in the garage are other problems that have Christy Bush worried.
No Affirmative Action from D.R. Horton
While multiple homeowners have multiple problems they do have one common complaint to unite them all. Homeowners are frustrated with the lack of affirmative action on the part of D.R. Horton builders. Homeowners feel ignored and all complaints and grievances have been left unaddressed thus far. Homeowners here are also proactively discouraging potential buyers from investing in D.R. Horton homes with negative advertising sign boards juxtaposed alongside “Homes For Sale” signs.
Buyer beware. Letters offering to help you get your property deed are misleading and can cost consumers. There’s a company out there that is essentially trying to sell you something you can get for next to nothing.
Dave Dettmann takes you on an informational “need-to-know” tour of what to watch out for when buying a foreclosed home. There are many things the buyer needs to “beware” of when purchasing a bank foreclosure, and this video will answer many questions.
Buyers Beware! Things to look for in foreclosed homes