Cincinnati Home Buyer Tip: Beware of Winter-Time Fees on Lender-Owned Properties!

Real Estate Agent with Comey & Shepherd Realtors

If you're planning to purchase a lender-owned property, be aware of the additional fees you'll end up paying.

As we approach the season of overnight temperatures often reaching 32 degrees and below, one of the things consumers need to be aware of when they make an offer on a lender's foreclosed property is to read the fine print. There are many listings that now state in the remarks that the "BUYER" is responsible, at their own expense, of having the property's plumbing de-winterized for their inspections and then re-winterizing it when the inspections are completed. I've heard cost estimates of $250 - $300 for that service. Consumers should also make sure that all of the utilities have been turned back on, so that the inspections can be finished in a timely fashion. Don't assume it's been done by the other party...double check by calling the utility company.

This is just one of the 'unknowing' charges you may end up paying for when buying a foreclosure property. There are a lot of great values in the market right now. If you're interested in taking advantage of this buyer's market, I'd love the opportunity to help you find one of these properties. Just contact me at or 513-615-1890.

Are you a first-time home buyer?  Attend our Free Home & Condo Buyer Tele-Class.  For details and upcoming class dates, go to:

Posted by

Dan Weis
Real Estate Consultant since 1985
Comey & Shepherd Realtors

Cell/Text: 513.615.1890

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