Buyer Beware: Short Sale Horror Story

buyer bewareWith dozens of homes in every neighborhood going into foreclosure or on the short sale lists, there has never been a better time to find a home run deal. But these home runs can come with a list of very expensive problems.

Just ask Mike Williams of Dever. Williams scouted over a dozen properties before pouncing on the chance to buy a short sale home at a discounted price which seemed liked a good deal at the time.

After $42,000 in renovations later, he feels very different.

Williams private home inspector told him the short sale house he wanted to buy was find and just had a little termite damage in the basement. But when Williams ripped up the vinyl to repair a soft spot in the bathroom floor, he found the damage was way worse.

“The joists supporting the kitchen and bathroom floor were entirely eaten by termites,” Williams says. Lets not forget the kitchen sink did not drain out anywhere. The water dumped openly under the home.

Williams ended up replacing an entire wall of his home. Lets back up a step, this was before he replaced his entire roof that was leaking water where he discovered a good amount of mold had been spreading that can be made sure when he can check here to know more about it. Instead of going through all these troubles, he can contact a reliable roof service agency. You can click here for roof repair in Kirkland and get the best roof repair agents at your service. Williams ended up dumping over 9,000 pounds of debris out of his house and to the dump.

There are a plethora of properties on the market with lots of motivation to sell. A majority of the people who are selling in a declining market are those that have to sell.

Even though they have to sell you don’t have to buy. Know what kind of mess you are getting into before you dive into a short sale or foreclosure. Before buying one of these properties be aware of the 5 common mistakes.

  1. Falling in love with a bad property
  2. Ignoring legal and insurance information
  3. Not getting a home inspection
  4. Ignoring property problems
  5. Leaving too little time for closing

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