Tresana RE Trends: Buying a Foreclosed Home

By
Real Estate Agent with Your Castle Real Estate

Topic:  Investor Series:  Things to keep in mind when seeing a foreclosed home
 
As investors we face a number of very real and very scary challenges. Making sense of this market is no mean feat and one has to be very careful with his or her investment. However, we usually think about danger as financial. Unfortunately, on rare occasion it can be even worse than that. The majority of the homes investors are buying these days are vacant and once in a while people break in and live in these properties illegally.  The last thing you want to do is walk in on someone camped out in a house, perhaps conducting illegal an activity.  
 
This is no joke, you want to be HEARD when you walk into a property that is supposed to vacant. So make a lot of noise when you're at the front door. I always knock loudly before entering.  Stomp your feet a little. Yell "Hello!" a couple of times. When you start walking down into the basement repeat the process.  The goal is to have whoever is inside hear you and not panic and do something stupid.  I hope you never need this advice, but keep it in mind the next time you visit a foreclosed home.

Comments (2)

Wendi Milinkov
North American Title - Greenwood Village, CO
One call-I've done it all! Sales/Title/Escrow

Good to know Nancy-I have a vacant, foreclosure home across the street. We've been trying to keep an eye on it.

Keep up the postings and it's great to see you on Active Rain!

Jan 02, 2009 06:51 PM
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

Hi, Nancy.

         We invite you back to ActiveRain.  Log in, leave some comments, write a blog post!  

Oct 25, 2017 06:54 PM