While this article is informative, I will note that it overlooks several important and useful financing programs in place to assist home buyers of distressed real estate purchase and renovate these "as-is" properties.
In fact, my recommendation to many buyers is to be wary of homes that have just been "fixed up" by the bank for sale and opt for fixing up the homes themselves. This allows the home buyer to do the work up to their standard of expectation instead of the "slap-n-dash" that I am seeing out here.
I personally see homes that the bank has covered up a mold issue instead of mitigating it or mitigating incorrectly due to being cheap.
As always, it is buyer beware. But a savvy agent can assist in navigating the shark infested waters.
Read on for A purchase strategy for distressed real estate viewpoint.
