Foreclosure Investing Safety Tips

Foreclosure Investing Safety TipsToday as I viewed a foreclosed house that gave off a weird vibe that had my instincts telling me to stay alert, I’m reminded that investing in foreclosed homes can be dangerous for reasons beyond financial.

Foreclosed homes are often targets for breaking and entering, squatters, and other such illegal activity. As such, you need to take precaution when viewing these properties.

Announce Yourself

Announcing yourself before you enter is apart of property viewing 101; There could be someone illegally living in the property, or there may simply be another person there inspecting the property. I always give a quick knock on the door right before I open up the property. Further, saying your name aloud and your reason for being at the property as you enter is also a great safety measure. Because on the flip side of this issue, if you were inside a foreclosed property and suddenly you heard movement or voices within the house and didn’t know another potential buyer had entered, you’d be expecting something much worse; It’s simply common courtesty to prevent an escalated misunderstanding.

Never touch exposed wiring

The majority of the time foreclosed homes have their electricity shut off, either by the power box or by the actual electricity provider. However you should never assume the electricity is off simply because the lights, air conditioning, fans, etc. are off. In some cases the electricity may be on, but because of prior visits from other interested parties/inspectors, only some parts of the house may have the electricity shut off. For this reason, if you ever see exposed wiring in a foreclosed home, always treat the wires like they are hot, and never ever touch them.

Carry Protection

A non lethal form of protection can go a long way in keeping you safe from potential attackers and lawsuits. I don’t recommend you carry anything that can inflict permanent or significant damage. A tazer or mace are more than sufficient to stop an average man, and are less sever than a knife or a firearm. Plus a firearm requires a license to carry.

Chances are you won’t run into any trouble in a foreclosed property or need to utilize these safety tips when you are there, but it’s only to your benefit to take no chances. So please be safe, view these properties with precaution.