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Bank owned properties in Colorado Springs – Use Caution

By in Buying

Banks are realizing that homes in poor condition are taking longer to sell and properties that are cleaned up are more appealing to home buyers.  I showed a home that was in rough condition a month ago and then took another set of buyers to look at it a couple days ago.  The home was repainted and re-carpeted.  I have to say, the cosmetic work made a difference and overall, it looked nice. Though, I could still see where the holes in the drywall were from the last time I had seen it since the bank’s contractors did a poor job.

Although bank owned properties that have been cleaned up look nice, buyers should be cautious about the condition of the home.  One common issue is a bad roof and the depending on the bank it may not be replaced.  If it smells like fresh paint when you walk inside a bank owned property in Colorado Springs, do not assume the bank took care of all the problems with the home (e.g. mold).

As with any home purchase, hiring a qualified inspector to carefully look over the property is important, especially when it comes to bank owned properties.

 Contact me about buying a home in Colorado Springs at 719-660-9058

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