All Posts tagged Short Sale Expert

Take it from our Palm Springs area short sale expert, as sweet as a short sale deal can be, there are some common mistakes that many buyers make, no matter how many warnings you give them. While discounted foreclosures can change the game on your hunt for a dream house, there are some potentially expensive items to look out for and seriously consider.

Read on for three of the most common short sale mistakes that our Palm Springs area short sale expert warns against.

• Bypassing the home inspection. This is one of the most important things you can do on both a foreclosed or short sale property. Hire a seasoned home inspector with good references and local expertise to examine the property you are considering buying. Ask lots of questions, and whenever the inspector finds a problem or issue, ask what they think the repair may cost. Then go home and do some research online and even call local repair specialists to get quotes. It’s very easy to underestimate how much repairs can cost. Keep in mind that, with short sales, some prospective buyers hire a home inspector before they even make an offer.

• Ignoring damage. If you notice large scale issues, such as leaks in the roof, sloping floors or cracks in the walls around doors and windows, you may need to hire a structural engineer to come in and do an assessment and make recommendations on what is imperative to repair. Issues such as termite damage or mold can end up being extremely costly and even dangerous to the health of your family. Spare no expense to determine if the home you are looking at is at risk for these issues.

• Ignoring property issues. Most of the time, those who have had their property foreclosed are very upset and frustrated about their situation. Unfortunately, some of these former owners unleash their anger on the property and actually spend time destroying aspects of the home. On the flip side, if a property has been abandoned for a time period, there could be issues of neglect, or worse, squatters living on the property for months on end, causing damage that no one has any knowledge about and creating filthy conditions that may be difficult to clean up. Again, this is where hiring professionals to evaluate the property can truly save you money in the long run.

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