3 Major Things to Look at When Buying Michigan Foreclosures

Posted in Michigan Foreclosures by Michigan Real Estate Expert on August 9th, 2009

If you’re looking to get a good deal by buying one of the Michigan foreclosures in Oakland County, keep in mind that many of the homeowners not only didn’t have money for the mortgage, they probably didn’t have money for the upkeep of the house either.  If you’ve found a home you’re interested in, here’s a short checklist to follow even before you decide to contact a home inspector.  

For some Oakland County Michigan foreclosures, structure is a definite issue.  Pay close attention to the following, as they may indicate more severe problems:

  • Are the interior walls in good condition?  Any cracks and stains?
  • Are the floors in good condition?  What are they made of?  Some floors are made of substandard materials, unsafe for more than casual use.
  • Is the roof in good repair or are there missing/curled up shingles?
  • Are the gutters, downspouts and flashing in good condition?
  • Do the doors and windows stick or glide freely?  When closed, do they block out weather or is there a draft?

Look for these possible water problems:

  • Is there mold and mildew on the basement walls or a dark, scaly surface?  This can indicate too much moisture, and can mean a leak in the foundation.
  • Is the ceiling bubbling, have brown spots, patches or new paint?  New paint might be a sign of covering up stains from water leaks.
  • Are there drainpipes around the foundation?  Do they lead away from the foundation?  Are there cracks or a lot of weeds around the area? 

Inside Hazards
Many older houses haven’t been updated or may not be up to code.  Here are some of the more common issues:

  • Is there asbestos around exposed pipes for the furnace, heating system or water heater?
  • Can you see any signs of vermin or insects?  Mice, termites, cockroaches and bats all leave signs of habitation behind.

If everything else is good, have the house tested for radon, carbon monoxide and lead-based paint.

Although there are many other things to consider when looking to purchase one of the Michigan foreclosures, these three are essential to a healthy living environment.  Most importantly, make sure you’re an informed buyer. 

If you’re looking to buy a foreclosed home, I can help.  Call me today at 248-514-2640 or email me at info@NorthWoodwardHomes.com for more information.

Lee Morof
RE/MAX Showcase Homes
Birmingham, Michigan
Call:  248-514-2640

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