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Entries Tagged as 'tips for purchasing a foreclosure'

Buying a foreclosure in Macomb County and the house has a well & septic?

November 17th, 2010 · No Comments · tips for home buyers, tips for purchasing a foreclosure

One of the challenges to purchasing a foreclosure is abiding by all local laws regulating the condition of the home (different city/township inspections and Certificate of Occupancy requirements).    Macomb County homes that are serviced by a well and septic system also have a mandatory inspection at the point of sale. This can be a bit [...]

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Worry about “tagged homes”, but worry more about homes scheduled for demolition – purchasing a foreclosure tip for Macomb County MI real estate buyers

October 18th, 2010 · 1 Comment · tips for home buyers, tips for purchasing a foreclosure

I remember last summer when a buyer client and I viewed a home in Warren.  It was a foreclosure, and because she was semi-interested in the home I did a bit of research on it the next morning. The City of Warren had “tagged” the home, which means you  need an inspection from the building [...]

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Bank owned homes and lack of disclosures

October 3rd, 2010 · No Comments · macomb county mi real estate market, tips for home buyers, tips for purchasing a foreclosure

This is one of those “just when I think I saw it all…” kind of posts. Last week I took buyer clients through a foreclosure (bank owned) home in north Macomb County.  The home has been on the market for quite a while, considering the low price for a large newer home in that area.  [...]

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Buyers beware – call the city or township building department before purchasing a Macomb County MI foreclosure

August 6th, 2010 · 1 Comment · macomb county mi real estate market, tips for home buyers, tips for purchasing a foreclosure

Once again I was reminded this morning that home buyers are having a difficult time receiving accurate information from their real estate agents regarding tagged homes on foreclosures.  Many Macomb County communities now have in place an inspection of foreclosure homes by the building departments before you will be issued a certificate of occupancy.  Without [...]

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Viewing homes on these hot humid days -notably, foreclosures and other vacant Macomb County homes

July 12th, 2010 · No Comments · macomb county mi real estate market, tips for home buyers, tips for purchasing a foreclosure

During the cold winter months I long for summer. Viewing the foreclosures and vacant homes in the winter isn’t much fun.  In fact, it can be quite challenging and uncomfortable.  My buyers and I cringe each time we trudge our way through snow drifts to enter the home, and no relief is found on the [...]

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Making an offer on a HUD home? Here’s how to protect yourself before you close on it.

February 23rd, 2010 · No Comments · macomb county MI, tips for home buyers, tips for purchasing a foreclosure

A few days I wrote an article about the National Association of Realtors® taking a stance and adding to their Standards of Practice the verbage “don’t give out the lockbox code!”.   While reading and commenting it reminded me of something that is taking place with HUD owned homes:   The locks are re-keyed with the same [...]

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HUD incentives ending in Michigan – February 12, 2010 is cut off date

January 31st, 2010 · No Comments · fha mortgages and first time home buyers, tips for home buyers, tips for purchasing a foreclosure

I knew it wouldn’t last forever, but I was kind of shocked to get the information in my email that the HUD incentives for Michigan are ending soon. As of February 12th of this year (yes, less than 2 weeks away) HUD is putting an end to the wonderful incentives that they’ve been offering for [...]

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Bank owned homes (Foreclosures) and disclosures – don’t expect any.

August 22nd, 2009 · 1 Comment · tips for home buyers, tips for purchasing a foreclosure

One of the things that really gets my goat (ok, that was an oldie but it applies) is the lack of sellers disclosures on bank owned homes. In Michigan if I decide to sell my own home I am required to provide a written sellers disclosure about the condition of the home.    Are there any [...]

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City of Warren MI is going to enact a foreclosure registry for homes

July 8th, 2009 · 3 Comments · tips for purchasing a foreclosure, warren MI

The first reading of a new ordinance in the City of Warren has already taken place and the 2nd reading will probably happen when the city council next meets. This ordinance is going to have a positive affect on homeowners in the city by helping reduce the eyesores and the safety hazards that abandoned properties [...]

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It’s almost June 1st and you know what that means…

May 19th, 2009 · 2 Comments · tips for home buyers, tips for purchasing a foreclosure

The 2009 summer property tax bills will be arriving in the mailbox (or, to your mortgage lenders mailbox.) If you are considering purchasing a home please keep in mind that many homes have had property tax reductions due to lower property values, but many have also had their homestead exemptions stripped. (Foreclosures, abandoned homes, etc.) [...]

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Important copyright information: All photos were taken by Kris Wales. Do not copy and use photos for your own use, whether it be for personal or commercial purpose. All articles were written by Kris Wales. Once again, do not copy and use for your own purposes. Important disclaimer: Views expressed on the blog by the author and commenters do not express the views of Keller Williams Realty. All information contained is deemed to be reliable at the time of posting but not guaranteed.