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buying house for closer

Discussion in 'Off Topic Threads' started by crusha, Apr 13, 2009.

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  1. crusha

    crusha TS Member

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    dont know kinda untelligible maybe explain more clearly try again is there a law against punctuation?
     
  2. 320090T

    320090T Well-Known Member

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    7½'s or 8's?
     
  3. Tailbuster

    Tailbuster TS Member

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    I'm not clear on your question, but here is what I think you are concerned about. The stuff that is gone out of the house is gone, whether it be cabinets, copper pipes, or furnaces. What you see is what you get. Once the house is foreclosed and for sale, the former owner has no rights to come back. If you are not good at evaluating the condition of the house, hire an inspector to evaluate everything so that you know what you will be spending money on. If you live in a cold climate, assume there are likely some burst water pipes. With a little work foreclosures are a terrific buy. But, you better know what you are getting. Don't assume anything positive about the house, other than what you can see. That could be costly to your wallet.
     
  4. halfmile

    halfmile Well-Known Member

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    They usually winterize the foreclosure homes here, so they don't have to run heat.

    They blow out the pipes and turn everything off. they usually post a sign relating to this in the door.

    As far as material goods, when you own the property you own everything on it.

    The former owners had plenty of time to remove their property.

    It's all yours, do what you want with it.

    HM
     
  5. HSLDS

    HSLDS Well-Known Member

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    If you are buying at a foreclosure sale the terms of the sale will be stated ('as is,' etc.).

    Is this a 'Sheriff's Sale?' (in PA this should be open to public bidding)

    Rather, it sounds like you are buying through a Realtor so I would not consider it a foreclosure sale. I suspect they have been asked to handle the sale of a property that was foreclosed upon by a lending agency??

    If so the lending agency is really the 'owner' and they will have responsibilities, in PA the house should be left 'broom clean' - that means all stuff out of the house, floors swept. If there is stuff left behind monies should be left in escrow to pay for the clean up - that is on the seller not on you.

    There have been situations where the original owners, in a last 'F U' to the bank TRASH the house before leaving. The advise of inspection is a good one. And again, monies into escrow to repair any damage (or negotiate relative to price).

    The best advise I can give is 'take along a lawyer' - it will be cheap money spent. You might even find a lawyer who will handle a 'closing' for a fixed fee...

    This could be a great deal for you - or a money pit

    Caveat emptor
     
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