Porcupine Real Estate Blog

Foreclosure Beware

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Foreclosure Beware

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Many buyers are excited by the idea of getting a deal on a foreclosure, but with foreclosures, it's often buyer beware. Here are our top tips when considering foreclosed properties:

  • No seller property disclosures available
  • Bank is not willing to make repairs or offer closing cost assistance
  • Missing or damaged appliances
  • Improper winterization, resulting in burst pipes.
  • HVAC system issues
  • Water penetration and damage issues from remaining vacant for so long

A home inspection is essential not only to identify problems with the home but to also get a more realistic picture of the things that need to be repaired to make the home livable.

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