According to a recent article I read in Business Week magazine Online foreclosures are anticipated to be up as much as 25% over the next year.  This is expected to occur as legal scrutiny of foreclosure practices ease and the backlog of foreclosures is addressed.

If you are considering the purchase of a foreclosed property keep in mind that some of these properties are significantly distressed.  This may include foundation performance problems, deterioration of exterior surfaces such as the roof and siding, or other damage related to a general lack of proper maintenance of a long period of time.  As home owners struggle to pay their mortgage they often find themselves unable to maintain components of the home properly.  Failure to keep up with regular maintenance can take a toll on the structure in a short time especially related to foundation performance given our current drought conditions.

Let us help you determine the condition of the property you are purchasing.  Our consulting services allow us to provide a better understanding of the condition of property through inspection than a simple TREC licensed inspection contractor can provide.

Bloomberg Newsweek Article