Tuesday, May 13, 2008

Hmmm...interesting tip on buying a forclosure....



I was looking at Trulia.COM, the housing sales website when I spied a set of questions written about secrets of buying foreclosed homes.

I liked the idea of buying a foreclosure because I figure the current owner (bank or whoever) might be a bit distressed and ready to deal.

But the set of questions brought up a fact that I just hadn't totally considered....well, only sort of half considered.

I had thought about the possibility that the person who defaulted did so not because they fell into bad times, but perhaps there was something so WRONG with the house or their life situation that they just elected to DROP it.

Well, this article brought up a particular case of this that I hadn't even considered.....what if the old owner used the house to cook methamphetamine? (here is the Wiki entry on methamphetamine )

I suppose I had considered the possibility that a house might have a nasty mold problem...or any of a host of other health related issues.....but having a problem of drug residue all over wasn't something I had considered. It would be a problem much like that of having lead paint.....it could be fixed, but at what cost?

Oh well.....just another thing to consider I suppose.

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2 Comments:

Blogger credit savvy said...

where can i get a meth lab to go


credit repair

11:05 PM EDT  
Anonymous Anonymous said...

Just another reason to not be the knife catcher. Prices have not fallen enough and like this article says, Banks sell forclosures as-is. So if you buy a previous meth-lab or mold farm then you have no recourse. Pay accordingly. Today I saw a site that really has some good ideas. the link was on Boing-Boing:

www.AmericansForJobsAndEnergy.org

Check it out and get involved. Maybe this site will get Boinged one day? Most economy blogs are stiff shirts, I like your laid back style.
TTFN
Daisy

6:17 PM EDT  

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