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Harris County Foreclosure Article
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A Home Inspection is an absolute must for Home Foreclosure Properties
from:There are many reasons for buying real estate property and one of them is to buy your own home. There are many tax advantages available for buying residential property. The government and most financial lending institutions offer tax benefits, favorable appreciation values, and finance options to homeowners
With the questionable economy today in the United States, it is pretty much a buyers market. This means that the selling price on affordable homes have come down in prices. Many families are facing home foreclosure and are selling often time at well below market value just to get out from under that debt. Like any other investment, the investor must purchase wisely.
When buying from a family facing home foreclosure, chances are the property may not be in the best of condition. Since money is an issue, the family may have also had difficulty keeping up with maintenance and repairs.
You will need to have a home inspection done, often called a pre approval inspection. That way you will know if the building is worth the selling price or if you will have to put out additional monies to bring the home up to building codes and your own esthetic needs.
A building inspector hired for your home foreclosure lead will be looking at such things as electricity and plumbing. An inspector will also look at the structural foundation of the building, checking the landscape, exposure to heat from the sun and rain or strong winds, and the inclination. The inspector will be looking for water damage, leaks and creaks, both on the inside and outside of the house. The inspector will take note of the gutters, downspouts, outside paint or siding, condition of bricks, wood, paneling, and the condition of the roof. Inspections will also be done upon the fuses, heating and cooler systems, fans, air conditioners and vents, as well as the fire alarms and security systems.
If the home foreclosure unit comes with appliances such as refrigerator and stove these appliances should be checked as well. A very important condition to look for is the water pressure. For example, many older homes lack sufficient water pressure to enjoy a pleasant shower. If you are looking for home foreclosure property in colder climates make sure that the water pipes are not only in good condition but are properly insulated as well.
If any problems come up in the inspection, you can use the cost of the repairs to negotiate a lower sale price if you still want to consider this property.
A very important thing to consider is whether or not the family is still living in the home foreclosure before you buy. You want to avoid eviction costs and legalities. There should be a stipulation in the lease that the occupants must vacate the premises as soon as a the property is sold, this becomes even more important if it is more than a single dwelling home foreclosure unit that you are purchasing for yourself and other family members.
Harris County Foreclosure News
Bill to help with foreclosed homes hit by vandals - KGET 17
Bill to help with foreclosed homes hit by vandals KGET 17 However, a new bill aims to prevent neighborhood blight and crimes associated with the foreclosure crisis. Many believe it is the aftermath of so many foreclosures. Currently, Kern County has the highest number in California with 35000 from 2008 to ... |
Petraeus, Harris address woes of military homeowners - abc7news.com
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Smyrna Man Found Guilty of Stealing Houses - Patch.com
Smyrna Man Found Guilty of Stealing Houses Patch.com Prosecutors say Harris would change the locks on foreclosed houses, pose as the landlord and lease them to unknowing tenants. By Sydney Busby John Eugene Harris of Smyrna faces up to 60 years on prison after being found guilty of 34 offenses ranging ... Man found guilty of stealing houses, duping tenants Cobb jury debates stolen homes case |
Attorney General Kamala D. Harris Joins Central Valley Law Enforcement Leaders ... - Sierra Sun Times
Attorney General Kamala D. Harris Joins Central Valley Law Enforcement Leaders ... Sierra Sun Times May 17, 2012 - FRESNO -- Attorney General Kamala D. Harris today was joined by Fresno County Sheriff Margaret Mims, Merced County Sheriff Mark Pazin, Tulare County Sheriff Bill Wittman, and Fresno Police Chief Jerry Dyer at a press conference in ... |
Cobb jury debates stolen homes case - WSB Atlanta
Cobb jury debates stolen homes case WSB Atlanta A Cobb County jury deliberated the fate of a man accused of taking over homes on the verge of foreclosure and renting them to unsuspecting tenants. John Harris, the CEO of New Life Granted, took the stand in his defense on Thursday. |