REO Mission Viejo Home for Sale - Buyer Beware
Posted by Leslie Eskildsen on Tuesday, February 9th, 2010 at 1:20pm.Bank Owned homes for sale in Mission Viejo represent a great opportunity to find a bargain - but their are things to watch out for that a home buyer might not have to be concerned with on a "standard sale".
Homes are Meant to Be Lived In
When you've found your dream home for sale in Mission Viejo California, one of Orange County's most beautiful cities, make sure you spend the time and money on a thorough home inspection. In the case of a Mission Viejo REO, or actually any vacant home for sale in today's real estate market, home buyers need to be particularly careful. Mission Viejo REO and Short Sale homes for sale typically have been vacant for anywhere from a couple of weeks to many months. Vacant homes are prone to trouble. Why, you may be asking, would a vacant home be more susciptable to problems? Seems like there would be fewer opportunities for problems since they are not being lived in on a day to day basis - that means less wear and tear. Actually, it's the opposite. Homes are meant to be lived in! By having people use tubs, showers, toilets, appliances, heating, air conditioning, doors and windows, the home is kept alive in a sense. When the basic home systems are not used, problems can arise. Dishwashers are best when run on a consistant basis. When tubs, showers, and toilets are not used, water can accumulate in the pipes and cause myriad problems over time. And most importantly, if something breaks or malfunctions, no one is there to deal with it.
Lurking Trouble
Like the Mission Viejo REO home for sale in this video. Between the time the buyers saw the house, put in an offer, got their offer accepted, and arrived for the home inspection, a slab leak had occurred. Water was dripping out of the house, and caused the interior walls, carpet, cabinets, and slab to be saturated. Mold growth was detected in 7 areas. All this happened in a couple of weeks. The bank fixed the leak but the damage had been done. The estimate to remediate the mold and restore the home to its current state was over $22,000.00. In this case, the bank declined to pay for the necessary repairs. The buyers cancelled the escrow. Just a story for you to help you make the right decisions and consider the reasons to conduct a thorough home inspection and go the extra step to do a mold inspection as well. You'll have the information you need to be certain you know as much as possible about the condition of the home - and have a chance to evaluate your options. It is a great time to buy a Bank Owned home in Mission Viejo - just make sure you give it a thorough inspection.
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