While a Tucson short sale can give you a good deal on a house, it is not secret that many of these homes come with some risk. One of the biggest risks that you take in buying a Tucson short sale is with the possible amount of extensive home repairs, but by understanding some of the most common repairs with a Tucson short sale, you can find issues before signing a contract.
One of the most common repairs with a Tucson short sale comes from broken pipes. When pipes aren’t used for extended periods of time, the water can sit on the pipes, eroding the seams that hold the pipes together. Broken pipes can lead to water damage and mold so using an inspector that is well-versed with home plumbing can help you avoid the damage that comes from broken pipes.
Another common home repair comes in the form of homeowner-inflicted vandalism. Too many times there are hard feelings with homeowners when they lose their home, and they can take out their frustration on the house. Many times the damage comes in the form of stripping the house of anything that is removable. That includes microwaves, fridges, sinks, cabinets, and anything else that can help the home owner make up their losses.
When there is home damage with a Tucson short sale it is possible to get the bank to foot some of the bill, but the best time to include this provision in your contract is before you put in your offer. If the bank doesn’t pay, you can apply for a 203K loan. It is a home rehab loan that allows you to include the price of repairs into the cost of your mortgage. That keeps you from paying for a lot of repairs for the Tucson short sale in one, big lump sum.
