Free Home Foreclosure Listings - Make Sure You Due Research Before Writing That Check

April 9, 2010 - PRLog -- There are others, however, that will fail to compete. When you are looking at a foreclosed house, there are a lot of things that can come into play. Always do your research before you write your initial check. Here are some things to look out for.

Hector Milla Editor of the "Free Home Foreclosure Listings" website -- http://www.FreeHomeForeclosureListings.net -- pointed out;


“…When you see a house that looks great on the outside, don’t assume that it’s in the best shape on the inside. Foreclosed homes are usually in need of major repairs because the previous owners didn’t have the money to make them when they needed to. If you are interested in a home in foreclosure, do a thorough walk through of the house on all levels…”

By law, real estate agents have to tell you certain things about each home. You should be worried about how long it’s been on the market first. A home that has been on the market for over a year is going to have a wealth of problems. Homes in foreclosure that sit vacant are prone to mold, mildew, and insect infestations.
If you do see a home that are interested in that seems to be in good shape call a city inspector and schedule a time for them to meet with you and the real estate agent at the property. A city inspector will be able to tell you everything you need to know about the house in about an hour or two. Inspectors can tell you if the wiring in the house is up to code, if there are any cracks in the foundation, and exactly what needs to be done to bring the home up to city code.

“…Weighing you options with a foreclosed house is a must if you want to come out on top. Buying a house a rock bottom price can seem like a great idea, but you might spend four or five times that amount to get it up to code and even livable. Schedule an appointment with arbitrary contractor or a city inspector to get the real information you’re going to need when buying a home and flipping it for profit. Never judge a house based on the way it looks. It could look like it’s been taken care of and be a money pit, or it could look disgusting and have nothing wrong with it…” added H. Milla.

Further information and resources to get free home foreclosure listings by visiting http://www.FreeHomeForeclosureListings.net