Foreclosed homes: Dream or Nightmare?

As the number of foreclosed houses in the Valley grows, potential buyers need to remember a simple message.

A foreclosed property is always sold - "as is".

Banks and financial institutions that now own the property have no knowledge of the history of the house.

You have to make sure you inspect the home and all its systems such as A/C, pool, water, everything.

Some foreclosed homes are in excellent condition and some are totally destroyed and in need of significant repairs. This is not necessarily bad, homes can be repaired, systems can be replaced, but you need to know it before you undertake any purchase.

Research should extend beyond home inspections. Location and specific neighborhood details are also important.

Our advice - make sure you get assistance from a "qualified" real estate professional.


This Blog is brought to you by the 777Team. The 777Team specializes in Scottsdale Luxury homes, investment properties, Scottsdale real estate, Phoenix real estate, or real estate in any of the surrounding Valley Cities, such as Paradise Valley, Pinnacle Peak, Tempe, Chandler, Mesa, Cave Creek, Carefree, Glendale, Peoria and others. Buyers, Sellers or Investors are encouraged to visit the 777Team's website at www.e-Scottsdale.com as it is designed to be a one-stop source for all real estate information and consumer research for properties throughout our Valley Cities and community information.