Property Q&A in Lincoln>Question Details

Sandikroll, Home Buyer in Lincoln, NE

Why is this property listed as distressed? Are there problems we should know about?

Asked by Sandikroll, Lincoln, NE Sat May 4, 2013

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It is a HUD home which means it was lost by the owner. I always recommend inspections no matter what the circumstances to help ensure that you know what you are getting in a home. It is best to work with an agent that will work in your best interest as a buyers agent to help you find a home that is right for you. The seller, that is HUD, does not typically know anything about the property & as previously stated, it is currently off the market. There are many more properties available depending on your needs.
0 votes Thank Flag Link Sun May 5, 2013
"Distressed" properties are simply foreclosures or properties listed for sale by the mortgagee. Homes are labeled that way because the owner generally can't afford the normal maintenance on the property as they are trying to focus on making their mortgage payments first. The term is not necessarily a reflection on the property condition. As stated before, the only way to know what's wrong (if anything) is to check it out.

Hope that helps!
0 votes Thank Flag Link Sun May 5, 2013
This home is a HUD home. From the photos and information available, I'm unable to see any problems. However, the best way to know is to personally look at the home and through inspections.
0 votes Thank Flag Link Sat May 4, 2013
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