Foreclosure Homes For Sale Tips

Certified... Or Certifiable? Ensuring Lemon-Free Foreclosed Homes

Foreclosures and abandoned homes are unfortunately the norm in today's housing market. Realtors state that one in four buyers is purchasing a foreclosed home...or one that is in danger of foreclosing. And, the Neighborhood Stabilization Program has been established to purchase and redevelop foreclosed and abandoned homes across the country.

Adding a property loss history report could mean all the difference in the world.

Think if it as a home certification. Auto dealers have a campaign where they term their used cars "Certified." For just $29.95, homeowners could have similar bragging rights.

A home claim history report details insurance claims for the past five years, and when repairs were done. Work done by qualified individuals or companies mean the homeowner took repairs seriously-and has nothing to hide.

A property claim history report is also a great tool for disputing (and certifying) information.

Just like a credit report can have erroneous information, so can your home claim report. For example, a realtor has been tapped to list the foreclosed property at 5056 Birch Lane. She has been told the home is in decent condition with no insurance claims made at all. But her Property Fax report shows a claim made in 2006 to replace the 27-year-old roof at a cost of $30,000. A little more investigation on her part shows that the address is incorrect. That roof went on a house at 5056 Birch Road. The insurance company was contacted, the Property Fax report adjusted, and now the home on 5056 Birch Lane was ready for buyers with a squeaky-clean report.

By presenting buyers with a property claim history report , the foreclosed home has a much better chance of selling quickly-leaving the lender with one less property to worry about.

Look for home claim report services that:

• Provides you with two other report options (Neighborhood Comps and Property Details)

• Doesn't place limits on who can access the report: or make you ask the seller to obtain a report

• Has an easy-to-use Web site so you can order the report(s) you need.

Be proactive and obtain a property loss history report from a trusted service like Property Fax. Used by professional Appraisers, Realtors, Investors, and Home Inspectors, as well as home sellers and buyers.