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10 Problems to Avoid When Buying a Foreclosure - Lee Alley, Rapid City Real Estate

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Lee Alley Real Estate - Rapid City, SD

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:

  1. It is not the damage, but the source of the damage

  2. An unheated, unwinterized house is more risky

  3. Peeling or bubbling pain or a musty odor are a sign of possible mold.  (Not all mold is bad!)

  4. Look for fungus

  5. Blocked drains can mean backups and possible mold contamination

  6. Check with the City building inspector, for records (or not) of work on renovations or repairs.

  7. Don’t try to remediate environmental hazards on your own…Hire a certified specialist.

Assess Indoor Air Quality (IAQ).  Are there signs of smells or other signals of problems that will lie ahead? 

 

VIEW MORE POSTS LIKE THIS AT MY WEB SITE:
www.BlackHillsMarketWatch.com

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Comments (3)

peter gyoerkoes
Exit Realty NFI - Pensacola Beach, FL
Thanks for the tips.
Apr 07, 2010 10:04 AM
Al Raymondi
Ocean View Realty Group in Ormond By The Sea Florida - Ormond Beach, FL
Ormond By The Sea Florida - Home and Condo Sales

Good advice Lee, thanks.

Apr 08, 2010 12:08 PM
Paul Gapski
Berkshire Hathaway / Prudential Ca Realty - El Cajon, CA
619-504-8999,#1 Resource SD Relo

yes they look so nice but Foreclosures are such tough on to stomach.

Dec 23, 2011 03:44 AM