Foreclosures for sale in Southern Litchfield County, CT. We have all sizes and prices, fantastic estate homes to modest homes. As of this date there are 3 estate homes for sale that are foreclosures. The prices range from about 2.5 million to just under $850,000 (with over 45 acres). Each of these homes are fantastic, spectacular settings with all the bells and whistles!
Buying a foreclosure is not for everyone, they often require work to be done. For those who have funds enough to cover the work needed it can be a great choice. If funds are not readily available, another option is to look into 203K rehab loans which roll the money needed for repairs into the loan. You do have to use qualified licensed people to do the work with a 203K rehab loan, the lenders do come back and check to make sure it was done as agreed.
Inspections are a must if you are going to purchase a foreclosure, although sometimes it is very difficult to do this. Some lenders will turn the power back on, some won’t. Without power you won’t know about the water situation, and in the winter I am always concerned that pipes might have burst. If the lender does allow for power to be turned on for inspections, they often require the potential buyer pay to have the house de-winterized and then re-winterized. Each situation is different depending on the lender.
Next, inspecting a septic system for a house that has been vacant often will not give true results. I know the septic inspectors I recommend are very honest about this. They will check the system for defects, but you may find that once you are living there, the system fails. You should be prepared for this.
There will always be an element of the unknown when purchasing a foreclosure so it is vital that you try to learn as much as possible when performing inspections. Many of these homes have been rode hard and put away wet, so to speak!
You will need a bit of patience if you are intending to purchase a foreclosure in Southern Litchfield County. Give us a call to see what is available at 860.946.0686, or send an email to email@example.com. We would be happy to show you foreclosures that meet your criteria!