What to Know about Foreclosure Clean OutsA foreclosure clean out is often a drawn-out process because there’s typically much to deal with, inside and out. The very first thing you need to do is to have the lawn cut if it’s overgrown. In addition, be sure to empty the mailbox and place a sign in the yard. If you are going to have the property painted or other services, encourage the contractors to put signs in the front yard. This will deter vandalism and trespassing.
The most important thing to understand before jumping into the foreclosure market is that these properties were given up by owners who couldn’t afford the payments anymore. In these cases, the house is often poorly maintained – after all, if the owner can’t make the payments, he or she is likely falling behind on paying for regular upkeep as well. In addition, some people who are forced into foreclosure are embittered by their situations and take out their frustrations on their home before the bank repossesses. This often involves removing appliances and fixtures, and sometimes even outright vandalism. —Investopedia.comUnfortunately, there are also many first-time property investors who do not realize the scope of flipping a property or renting it out. There are many costs associated with foreclosure rehabs. But, there are also logistical challenges, as well.
Foreclosure Clean Out Tips and Tricks for WilliamsburgIn order to make the property appealing to a buyer or renter, you’ll need to whip it into shape. So, use the following foreclosure clean out tips to your advantage:
- Take an inventory. Although the property might well be abandoned, any personal items might still be the legal property of the last resident. Take an inventory and also take note of the overall condition of the house.
- Test every appliance. No matter how small or insignificant it is, test it out. Even if you don’t plan to keep it, test it. Because, you might find another home for it. Or, it can serve as a temporary replacement, if needed. This is especially true with major appliances, like a water heater or refrigerator.
- Empty the interior. Take the time to remove every single thing from inside the home. Leave nothing behind. Once the inside is totally cleared out, you can then remodel and rehab the interior spaces.
- Start the rehab process. After receiving the home inspection report, you’ll know what components and systems need to be repaired or replaced. You can then start the rehabilitation process and remodel it to restore it to livable condition.