What to do After Buying a Foreclosure – Shleppers has some tips!

Buying a foreclosed home is different than the usual home buying process. Homeowners on a budget or those concerned with monthly mortgage payments may find that purchasing a foreclosure is the right solution, as they are offered at lower prices through a bank or lender. Buying a foreclosed home gives buyers the chance to purchase a home that would otherwise be too expensive.

Although a few extra steps are involved in research and working with a real estate professional, purchasing a foreclosed home can be a worthwhile investment – just be prepared to deal with many unknowns.

Vacant Homes Can Harbor Hidden Problems

Typically, utility companies will cut lines in vacant homes as a safety precaution, so make sure you have extra money to pay for anything that needs to be fixed. While an inspector can find everything to be in decent shape, they can’t check the plumbing, electrical, or boiler if the utilities are shut off.

Sometimes You Can’t Peek Inside

They say you can’t judge a book by its cover, but you may not have a choice when it comes to foreclosures. During the selling process, buyers are sometimes not allowed to inspect the property’s interior because sometimes the resident is still living there. This is when you should gather as much information as possible and invest heavily in inspections. Inspect everything! Not only will the testing give you peace of mind, but you may be able to go back to the bank and request that they contribute to some necessary repairs.

Moving Into a New Home with Shleppers

The short-term stress from buying a foreclosure is nothing compared to the long-term benefit of getting a house you love for a great price. Whenever you find that special place you want to call home, let the team at Shleppers local moving company know. We have over four decades of experience doing moves inside and outside the New York area.  Contact Shleppers Moving & Storage to get a FREE QUOTE for your move NOW!