Purchasing a Foreclosure in Ormond Beach, FL

While you can get great bargains now in foreclosed, bank-owned, and short sale properties in our Ormond Beach areas, you need to do your homework and apply extra due diligence to make sure you aren't stuck with repair bills that exceed your savings.

Here are just a few points to look for - before you make that offer and hire an inspector:

1. If the house in unheated - even in Florida, on our colder days, the heat needs to be on. If the home has not been properly winterized or insulated, you could have damage and pay a lot in utility bills.
2. Missing sinks, toilets, fixtures - have they been removed or ripped out? Be very conservative when you do estimates for replacements.
3. Peeling, bubbling, discolored paint, swelling in walls or ceilings, musty odor - these all can indicate water damage. In our climate, that could also mean mildew and mold.
4. Fungus growth inside cabinets, behind drawers and built-ins - the growth can indicate water damage, which - you know now - is not a good sign. Water drips down, so look for the source above the mold.
5. Blocked drains or pipes will cause future problems, period - there may already be sewage backups.
6. Black cobwebs, greasy gray residue on walls, strong oily odors - these can indicate a malfunctioning furnace.
7. If you are looking at older homes, many need extensive renovations. These may include getting permits which were overlooked, removing asbestos, and expensive remodeling.
8. Excessive new paint - track down the source. What were the previous owners trying to cover up?

With a bank-owned house, there is no seller's disclosure and you as buyer are entirely responsible for inspections. It is imperative you hire qualified and recommended inspectors and be very attentive to their findings. I can help you with this process - you need an experienced Realtor on your side so you don't end up paying way over the bargain you wanted.

Contact me today, and read on my web site, to find out what a Certified Distressed Property Expert can do for you.

Sherry Armstrong, Realtor
386-679-3191
yourkeytothebeach@gmail.com
www.sherryarmstrong.com