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Risks of buying an abandoned property
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[QUOTE="Ramolak19, post: 302376, member: 72962"] When considering the purchase of an abandoned property, there are several risks potential buyers should be aware of. The primary risk is that of a pre-existing structural issue. The property may have been left vacant for a period of time, allowing for water damage and the growth of mold. Additionally, the property may have been subject to vandalism, which can lead to further structural damage and higher costs to repair. In some cases, the former owner may have had unpaid taxes or bills associated with the property. This means the current owner is responsible for these fees, potentially leading to costly surprises. Finally, any purchases of abandoned properties should be thoroughly inspected to ensure that any existing mechanical, electrical, or plumbing systems are functional. [/QUOTE]
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