Repo Homes New Mexico

Your Source for Albuquerque and Rio Rancho, NM
Bank and Government Foreclosure Properties

 

Are bank owned properties necessarily “fixers”,
or in bad condition?


 

Some homeowners who are being kicked out of their homes leave the property in terrible condition. They may be mad at the mortgage lender for taking their home, they may strip the home of fixtures and appliances, or they may not have been able to take care of the property for several years. This is not always the case. Sometimes the financial event which triggers foreclosure is sudden and out of the blue, such as a death of the household’s breadwinner.  The home was taken care of until recently, and in spite of the family’s loss of income, they still took pride in their home and kept it up as long as they had it.

Because there is such a wide range of condition found in foreclosure properties, it is very important to at least visually inspect a home carefully prior to making an offer, and to have a professional inspection prior to closing escrow.