Kansas City First Time Home Buyer Learned A Valuable Lesson Before It Cost Them Thousands . . .
The past couple weeks I have been working with a first time home buyer. We started off by them calling on one of my listings. After scheduling a showing with them they decided that the home was not for them.
We next met a couple days later and I went over the buying process. We discussed buying foreclosures, using no money down loan programs and what their needs and wants were at the time and in the near future.
After viewing over 25 homes and many of them foreclosures, they have decided that maybe I know what I’m talking about.
Homes in Kansas City that have been foreclosed on may appear in good shape. In fact, many of the defects have been hidden very well. Other homes are in such bad shape that the defects can’t be hidden.
What am I talking about, you ask? Ninety nine percent of the Kansas City real estate foreclosures have deferred maintenance. Hot water tanks maybe leaking, furnaces not serviced, plumbing pipes leaking and many other countless problems.
On top of that, most real estate foreclosures have had their electricity turned off for up to 15 months. The drainage system depends on electricity on most homes in Kansas City. Without a working sump pump, the pressure exerted on the foundation wall for as little as 2 months can heavily compromise the foundation walls.
I talked to a foundation company and they told me that their business as increased with the increase of foreclosures in Kansas City. The foundation specialist that I talked to said that malfunctioning gutters and sump pumps for a short period of time can cause thousands of dollars of damages in the future. The specialist also said that most homeowners who have bought a foreclosure that he has talked to when servicing the foundations tell him that the foundation looked great when they bought the home.
Through my research of the foundation, which maybe heavily compromised, may not show the signs of stress for 2-3 years down the road in Kansas City.
Now back to the first time home buyer. Through my research, I showed the first time home buyers the hidden stress signs with foundations. After viewing 18 foreclosures. We found problems in 16 of them.
If you would like help in finding the right real estate foreclosure, contact the Dowell Taggart Team at (913) 712-9313 or e-mail us at Real EstateWizard@DowellTaggart.com .
Information provided by the Dowell Taggart Team.
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