Ah, foreclosures. They tend to fall one of two ways: There’s virtually nothing wrong with them but a few minor repairs or you inadvertently purchase something that you’re not even sure is habitational property. If you’re considering purchasing a foreclosure, what are some red flags that it’s uninhabitable?
There Is No Water Source
Whether the well is faulty or the pipes are busted, RUN. Plumbing is one of the basic necessities of living in a home and if it is nonexistent, leave it alone. It’s too much time and money to worry about.
Mold Has Infested The Drywall
Although it’s possible to get rid of mold outbreaks, mold that has penetrated your drywall is not something that you want to get yourself into. The cost of replacing and rewiring all your walls can tick up in price before you know it plus you could seriously injure your healthy living that way.
Locks Are Defective
You deserve to always feel safe at your home. If the locks or keys are questionable, don’t think twice. God only knows who else has a key to the house, plus an unreliable set of locks can be unsafe and expensive to replace.
Your homeowner’s insurance should cover the more minor repairs if you choose to buy a foreclosure, but know what you’re getting into. By reading the data found on H&A Inc., you might better educate yourself on what that looks like.