When AZ Real Estate Bargain Isn’t A Bargain

What looks like a real estate bargain is not always a bargain

For potential AZ real estate investors who have money in their pockets, today’s real estate market seems full of bargains.  However it still pays be very careful before purchasing Arizona property no matter what the sale price. 

Some of the best bargains out there have foreclosure written all over them.  One of the largest red flags with foreclosures is that they are in the lender’s hands, and more often than not, the lender is not caring for the property. 

In cold climates this could mean frozen pipes or water damage, and in other areas, it could mean general plumbing problems. In general foreclosure properties are sold “as is”.  This means there will be no inspections and the lender will not be putting money towards fixing anything in the foreclosed property.  Air quality problems that may arise from mold, radon, or gas leaks will not be mitigated.  Lead paint will not be replaced, nor will asbestos be removed.

If you have your heart set on a AZ foreclosure property, make sure to carefully inspect every aspect of the foreclosure before committing. 

Speak with an experienced Arizona Realtor, such as the Tony Marriott Team, to get a sales history on the house.  Doing your homework could result in a better future home-ownership outcome. 

Contact Tony Marriott about Arizona foreclosures in the Phoenix AZ and Scottsdale AZ areas at 888-577-6585 or by email.