February 2012

Foreclosed properties, or those now owned by the lender are still around, though not as many and most don't tend to stick around on the market once they are released for sale, which could be a few months to over a year after the house was vacated and foreclosed.

Here are a few questions to investigate about a home. 

1. How old is the home. Older homes tend to have certain issues that come about as a result of age and many of these are exacerbated during the former owners distressed period. Also certain times in the real estate market, like boom times, the quality of construction and materials is usually lower. Learn about the specific issues that can come up and address them as you do your inspection.

2. Has the home been vacant for long? REO…