One of the biggest issues I see in buying a foreclosed home in the Tigard, Oregon, real estate market is you don’t have anyone protecting you if you don’t protect yourself. This doesn’t seem right, especially if you hired a real estate agent. However, there are some things even your agent may not think of, or may not be able to tell you, so this is where you need to protect yourself.
The first thing is your agent can’t tell you how safe the neighborhood is, that is for you to decide. I suggest you check out the police websites and do a thorough search of past crimes in the area and see if there is a lot of personal property crime. (Car break-ins, house break-ins…)
But, and this is the big one, this is the one that you absolutely have to do yourself and you have to do it before you even consider closing on ahome or it could cost you hundreds of thousands of dollars. This is where I’m telling you to protect yourself when buying a foreclosed home especially.
Every home that you buy in short sale or on the regular market comes with a disclosure form from the seller, but what about the bank? The bank doesn’t have to do a disclosure form. They are exempt from the disclosure laws. So,what is your Tigard, OR. real estate home hiding that the bank doesn’t have to tell you?
Your home could have been a drug house and used for manufacturing drugs and could be hazardous to you and your family’s health. You may not find out for years why your family keeps getting sick. You may only find out after the doctors tell you what they think the symptoms are.
So, why was the home foreclosed? Are the owners in jail for drugs and drug making? You better know before you close on that house, or you might find out your $250,000 home could be worth $100,000 and your family’s health will be at risk! Now, if the owners weren’t arrested for it, there may be no record of it, and you may want to have an independent test of the house to see if there are any signs of drugs in the house.
Protect yourself and your family when buying that foreclosed property in Tigard, Oregon, or you could be sorry.
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