Buying a foreclosed home can be a double edged sword – you don’t know what you’re in for, really, until you buy the house. That’s why foreclosed homes don’t feature prominently in a typical homebuyer’s list. It takes professional investors like us to spend time and money buying these houses. Here are a few common things we have observed during home inspections of foreclosed properties.
1. Electrical Breakdown: When a foreclosed home stays closed up for a long time, the electrical wires and other components may stop functioning due to age, may get chewed by rodents or stolen by an intruder.
2. Inoperable Faucets and Toilets: Faucets and toilets will eventually fail to function if the pipes aren’t operational. If left unused for longer periods of time, pipes tend to break and will need complete replacement.
3. Broken Windows and Doors: If a foreclosed home is vacant for too long, it becomes a prime target for miscreants. Vandals will take anything that might be of value, including appliances, doors, sinks, etc. This leads to broken windows and doors.
4. Infestation: Closed, vacant spaces can turn into favorite hiding spots for insects, rodents and birds. Cats and dogs may enter through broken doors and windows to settle down in the basements or make a home in an overgrown yard.
5. Mold: Non-occupancy can lead to the excessive moisture that causes mold growth. The accumulation of moisture helps the various species of molds to vegetate and may affect drywall and beams as well.
When homeowners move out of foreclosed properties, cleanliness and maintenance can become major problems if the house stays vacant a long while. Due to limited air circulation and improper ventilation, the built-up mold and dirt can cause the house to smell horrible. The stink can make the property undesirable to future prospective buyers. Therefore, it is wise to sell such a home at the earliest. Southern Nevada Homebuyers specialize in buying houses in Las Vegas. If you have a foreclosed home for sale in Las Vegas, rest assured that you’ll sell it quickly with us, no matter the condition.