Buying a foreclosed home is a little different from standard home buying. My wife and I bought a foreclosure for our first home and we can tell you from personal experience there are some serious advantages and disadvantages to going the foreclosure route.
Be ready for closing. It is much advisable to have an attorney present when conducting this. Or, you may have a lawyer look at the closing papers, which is quite customary in some states. Closing periods usually take about a month or so, depending on the seller; and perhaps, maybe even on you – as you both have different considerations or wants that you need to address and be met – such as those stated in the purchase agreement.
Home maintenance tasks are often put off for various reasons, such as lack of time, lack of money, or simply lack of interest. However, when it comes time to sell your home and you know buyers are looking, it’s time to take care of business.
Now once you get your general idea of the above items,its time to look for a real estate agent and give them the details of what your looking for. You can also do some research on your own by checking for sale by owners, which you can find in the local newspapers and online.
Have a home inspection syracuse prior to any remodel or large repair project. For many reasons this is a good idea, but it’s important to know if lead based paint, asbestos insulation or mold are present, as they require special handling and clean up. Pets have very sensitive repertory systems.
Frequency of cleaning – The prices will also change according to the frequency of maids services used i.e. weekly, monthly, bi-weekly, etc. The prices for initial cleaning and monthly cleanings are expected to be higher than bi-monthly or weekly cleanings. Regular cleaning usually secures a significant discount.
Clean, clean, clean. Make sure your house is always clean and pleasing to the buyer. Remember that they are most likely going to be looking in closets, opening the oven door and peeking in showers. You want to show your house in the best possible light.
Finally you have to be concerned with the taxes on the homes that you buy. Most house flippers do not like to hold onto homes so long that they would have to pay taxes but it can happen. There are times when you have no choice but to hold the home over due to repairs and such so the taxes will come due. Factor this into your pricing when you are looking to buy.