10 Problems to Avoid When Buying a Foreclosure
Rapid City and the Black Hills are blessed with a relatively very small proportion of foreclosure properties. But when you find one, it is important to know what you are buying and the risks of problems developing.
This video by RIS Media explains several pitfalls when buying foreclosures:
For example:
-
It is not the damage, but the source of the damage
-
An unheated, unwinterized house is more risky
-
Peeling or bubbling pain or a musty odor are a sign of possible mold. (Not all mold is bad!)
-
Look for fungus
-
Blocked drains can mean backups and possible mold contamination
-
Check with the City building inspector, for records (or not) of work on renovations or repairs.
-
Don’t try to remediate environmental hazards on your own…Hire a certified specialist.
Comments (3)Subscribe to CommentsComment