Your Home Buying Solution for Hilton Head Island, SC and Bluffton, SC Real Estate

Buying a Hilton Head Foreclosure

A Hilton Head Island foreclosure can seem like the deal of the century, but it can also be a house of cards. You don’t want to let a good deal pass you by, but you also want to be aware of the situation.

Here are some tips to guide you if you are thinking about purchasing a Hilton Head Island home in foreclosure.

Budget Carefully. A small price tag isn’t necessarily a good deal. When budgeting you need to factor in the cost of repairs. Some foreclosed homes are in poor condition, either because of the length of time they had been empty or the homeowner’s wrath at being foreclosed. If you are going to purchase a foreclosure, be honest about the amount of work and the amount of money it will take to return your Hilton Head home to livable if not pristine condition.

See the House For Yourself. Buying a Hilton Head home sight unseen is unwise. Remember, this is an investment, one you will have to live with for a while. If you don’t live in Hilton Head Island, ask your Realtor to look at the home for you. Also, get a home inspection done so you know exactly what you’re getting into if you end up making an offer on a home in Hilton Head Island.

Check Out the Neighborhood. Balance the cost of purchase and repairs against the likelihood that you’ll get your money back down the road. Fortunately, all Hilton Head Island homes are a great investment, but you do want to make sure you don’t need to invest more than the house will be worth. If there is extensive structural damage in the home, you could quickly be in over your head.

How Long Has It Been Empty? A house loves to have people in it. When they are vacant for a period of time, they can naturally start to break down. After a time, the plumbing seals dry out, sewer gas may get backed up in the lines and other ailments can crop up because maintenance has not been performed regularly. If the home wasn’t winterized properly this can become a factor as well, leading to leaks behind the walls and mold.

Look At the Landscaping. If the trees and bushes have been neglected for a while roots may have started to creep into the foundation, the concrete and the pipes. Look for signs that nature has begun to reclaim the home. It could lead to hefty, hidden expenses.