Foreclosure homes have been seized by a bank or lender due to non payment. Due to the economy, the last few years have left the market saturated with foreclosure homes in Hartford. As with any new experience, you want to make sure to know what you’re getting into. Check out the following 3 tips for buying a foreclosure home in Hartford.
First, make sure you know what you can afford. Foreclosure homes have typically been vacant for some time. There may be necessary repairs or upgrades when it comes to buying a foreclosure home, so make sure you know what you can afford and decide on your limits.
When you do find a property you like, make sure you have your own inspection completed. There may be unknown damages, or damages you cannot see from the surface. Buying a foreclosure home does not come without risk, so this will help manage that risk.
Finally, make sure to find an agent with experience. Experience is key when it comes to buying a foreclosure home in Hartford. Foreclosure homes can take the same amount of time as an average purchase, but that does not mean the process is the same. As I’ve spent years in this business, I know how to start and more importantly, how to finish.