1. on a foreclosure, the house should already be VACANT. the former own should not be taking anything out of the property.
2. On a short sale, a house that can be in the foreclosure process, your agent should remind the listing agent that there is a contract about the condition and contents of the property.
The Pitfalls of buying a Foreclosure
1. the addendum, or counteroffer by some banks is very one sided. Some banks take a perfectly well done contract made by a team of attorneys in the state of California and dismantle it piece by piece trying to make the contract so one sided, many buyers say no way and kill a decent deal.
2. you will have no history of the property or disclosures.
3. banks are an entity and operate on their time schedule not yours.
4. banks usually choose terrible escrow companies whom they work with on multiple deals and usually have issues.
5. Listing agents for foreclosures work for the banks and will do so next week. so their primary client is the bank. Do not ever think the listing agent on a foreclosure will help you.
6. communication from listing agents who list for foreclosures usually have a slow time getting back to any phone calls and are too busy to deal with a whole lot.
7. there can be hidden issues with a property and once escrow is closed, it is 100% your problem.
8. Some banks choose a home warranty company that is less than desirable than one you can choose.
9. the property you are buying is vacant and vacant homes sometimes have issues with people breaking in and trying to steal items, move in etc.
10. take pictures and video everything as is when you buy the property. do a walk through with your agent prior to signing loan docs and again around 5 days prior to close and again the day before you close. do you best to make sure everything is ok.
11. get a VERY GOOD home inspector.
12 Get a VERY GOOD termite inspection.
as with any property once you bought it, it is yours.
Harold Sharpe - Broker
So Cal Homes Realty
California Department of Real Estate Broker License # 01312992