Five tips for buying houston luxury homes in foreclosure
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Five Tips for Buying Houston Luxury Homes in Foreclosure - PowerPoint PPT Presentation

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Just like any other city, there are luxurious houses n Houston that are in foreclosure due to financial problems of the current owner and these homes can be sold for a fraction of their value. If you are considering a foreclosed home, you should consider these 5 tips. Data presented by Keller Williams Realty Memorial - Houston's real estate technology leader since 1989. Visit our official website at

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Five tips for buying houston luxury homes in foreclosure

Some of the damage will be visible,

but some of it may not and you will

need someone to inspect the property

to ferret any problems that exist.

Before jumping at the first great

price you come across, you need to

inspect the home carefully.

Most foreclosures do not go

smoothly and angry homeowners

have been known to take out their

frustrations on the property, even

former owners of luxury homes.

Five tips for buying houston luxury homes in foreclosure

Usually the longer the house has been vacant, the more damage there could be.

The previous owners of the house you are thinking about buying may have left

months ago and it is

important to find out how

long the house was empty.

The damage could be from a bug infestation, dried out plumbing seals and sewer gases backing up into the house.

You will have to consider these problems in your

repair budget.

Five tips for buying houston luxury homes in foreclosure

When owners of luxury homes have financial troubles, the first thing

they may stop spending money on is landscaping.

Look for vines growing on the house or growing into windows and look for root damage around the perimeter of the house.

Be sure to thoroughly inspect the grounds for overgrown trees that

may be damaging the house.

The cost of these repairs will have to be considered as part of

purchasing budget as well.