Wow! We are asked this question almost every day. As we have heard from TV, newspapers, the grocery store, our family and friends Las Vegas is experiencing a higher than normal foreclosure rate. Many people wish they were in position to snatch up a great “home bargain.” For those that are in position to buy a first home or next home please read on.
As an avid movie devotee the last thing I want is for a new homeowner to fall into the traps found in the movie “Money Pit” with Tom Hanks and Shelly Long.
In most cases, a bank-owned home is priced at a below market price to move the house quickly from the lending institutions books. What the great price does not always tell you, is that the home is priced “As-Is.” Many times the home has been vacant for many months without power, gas, or water. A Las Vegas home is not designed to be without these necessities for a long period of time. For example, a home without heat in the winter can shrink and without air conditioning in the summer can swell. In both extremes damage can occur to the drywall, stucco, window, doors, cabinets, etc.
To answer the question posed in the title, each house must be taken on a case by case basis. In some cases the repairs may be a blessing in disguise because the new homeowner may have the equity to remodel the broken down kitchen into the magazine dream kitchen. In other cases, the home may be best if you passed and found the next great deal.
To receive a proposal on the repairs of your next “bargain” please consider Custom Homes By Chateau, LLC for your next job. Contact Brett Primack at 702-858-4051 or brett@primack.com
