These homes can be in bad condition that hides a worse condition that is only obvious with a thorough Inspection of the complete property. In many cases the departing owners were upset at being evicted and sabotage the home as they leave it.
While it then stands empty for up to six months as it goes through the courts and the banks examiners it starts to further deteriorate with no utilities on. A lack of heat bursts pipes, no electricity and the sump pump stands idle as the basement floods destroying any components and causing mold to grow.
Unscrupulous thieves remove the air conditioning condenser and damage the door frames kicking them in to gain access and allowing animals to enter through the open door.
Odors from raccoons and cats can be very difficult to remove from the house. All these problems become yours if you buy the house. You will want to know what you are buying before you become the new owner of the property.
Drywall damage is easily repaired, older plaster walls can be a challenge, with the hole getting larger as you try to find secure surface that the repair will adhere to. Mold or dark staining should always be considered potentially hazardous until such time as you get testing results to the contrary. Peeling paint is more often found in older homes that were repainted with latex paint over lead based paint, again something you will want to be careful with.
Bathrooms and kitchens often bear the brunt of the previous owners rage as they leave the house. Toilets damaged, drawers removed and destroyed, shower walls broken with a well place kick, leaving them all in an unusable condition.
During the last few years before being evicted the previous owners are usually short on money for minor repairs and maintenance issues, so you will want to know what needs immediate repair to move in and what to plan on repairing during the first few months.
We know what to look for even if the utilities are all off, we look for the tell tail singes that drains or pipes will leak. receptacles that are probably ungrounded, issues with the electric panel. call us if you want a detailed report on the condition of the bank owned home you are considering.