Alaska Foreclosed Homes For Sale: Pitfalls to Avoid

Posted by Dan Wolf on Friday, March 14th, 2014 at 10:41am.

Looking to purchase an Alaska foreclosed home for sale? If so, you’ve probably done your homework and found several listings that fit your needs and budget constraints. If you are lucky enough, you might have even found a house that gives you everything you want for a lot less than you anticipated paying. However, be sure you understand what comes with an Alaska foreclosed home for sale. Generally, foreclosed homes are sold under face value as a way to sell the home faster and off the bank’s hands. Buying a foreclosed home is an excellent way to save a substantial amount of money, but there are some negative aspects of Alaska foreclosed homes for sale that you need to stay on the look out for. Not all of these negative aspects are going to be present in the Alaska foreclosed homes for sale, but you should at least know what some of the pitfalls are and how to avoid them.

Alaska Foreclosed Homes for Sale: Pitfalls to Avoid

#1 Bad Upgrades

When a house is placed on the market, real estate agents hire house inspectors to determine how the owner can add value to the house. However, with Alaska foreclosed homes for sale, inspectors are not part of the process due to previous owners taking it upon themselves to renovate the home on their own without bringing the renovations up to code. This ranges anywhere from illegal wiring inside the house to a poorly installed water heater. In order to avoid this problem, it is important to hire your own house inspector to examine the interior and exterior of the home. Before placing a bid, be sure the house passes inspection. If not, change your bid according to the inspector’s recommendations.

#2 Dirty House

While clean houses sell much quicker, Alaska foreclosed homes for sale generally sit untouched for some time, leaving behind dirt and grime for you to take care of. The inside of the home may even begin smelling but luckily, it’s nothing some bleach can’t help fix. Hiring a home inspector will help you determine if anything substantial is causing the smell such as an animal getting stuck in the ventilation system. Putting in a little elbow grease into the cleaning process is worth saving a considerable amount of money on your house. 

#3 Overgrown Yard

Although Alaska is known for having beautiful yards during the summer, you will notice Alaska foreclosed homes for sale having overgrown lawns. Due to banks wanting to make a profit from the sale of the home, it will be very difficult to find a home with a well-maintained yard. However, as the temperatures remain cool with little moisture, the yard can be cleaned up within a few days. If the yard needs substantial work, hiring a professional landscaper can be deducted from your original bid.

#4 Vandalism

Depending on the location of the Alaska foreclosed home for sale, vandalism can commonly be found in unpopulated areas that have less foot traffic. Windows are commonly found to be broken due to children throwing rocks through them. Houses with copper plumbing or wiring are also commonly broken into. Although banks will generally pay to replace broken windows and missing plumbing, it is important to be aware of the situation.

These are just a few pitfalls to avoid when purchasing an Alaska foreclosed homes for sale. Contact us today or use our reliable, reputable and safe website to search for a home now.

 

1 Response to "Alaska Foreclosed Homes For Sale: Pitfalls to Avoid"

kassandra wrote: This is a great article. The Wolf team did a good job spelling out the concerns and issues with these homes. The can be a challenge but they can also help fit the budget. However the repairs and cleaning can hit your cash that you might now have. It is a fine balance and you'll need a team, like the wolf team, to male sure this is right for you. Again great article! Posted on Saturday, March 15th, 2014 at 10:09am.

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