Foreclosure in Virginia>Question Details

Jamie, Home Buyer in Dallas, TX

I am looking at va foreclosures on ocwen.com. It seems that every house on the foreclosure list say that

Asked by Jamie, Dallas, TX Sat Feb 2, 2008

there is a pest and termite problem. Is this just normal or what?

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3
Jamie...yes...this is the case in Va...the pests are the lawyers and the termites are the bank...we neeed an exterminator like you to come here and fix the problem with your hard earned cash before the market crashes even more...hurry on up...Jacko
1 vote Thank Flag Link Sat Feb 2, 2008
Think about this, all you Bargain Hunters:

If someone doesn't have enough money to pay the mortgage, do you think they have the cash to do regular maintainance & repairs (like termite treatment)?

Be extra careful in your inspections when dealing with a REO, goverment repo, auctioned or short sale property. If you buy as-is, prepare for the worst. I bought a VA repo, as-is, no home inspection. The day we turned on utilities, the hot water heater burst. The gas-pack ran for two days and died. Verdict: not repairable. That was ok, because I bought it for half market vakue, but just know what you are getting into and have the resources to back it up.
0 votes Thank Flag Link Sat Mar 15, 2008
try these sites
http://www.pasreo.com
http://www.iasreo.com

google REO
http://www.biggerpockets.com gives a bunch of info from banks that own properties
0 votes Thank Flag Link Fri Mar 14, 2008
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