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Maybe it's me, I'm looking at REOs for a friend and/or as a possible investment. I'm looking in a city nearby where there's better medical care, some public transportation, and lots more shopping than where we live. It's a 45 min drive which I make at least once a week anyway. But I often dismiss a house from my consideration list based on the information on MLS.
My first big reason for not even contacting the realtor is no inside pics. Not a one. To me, that means the damage is so great, the property isn't worth my time to see it.
Neither my friend nor I are opposed to a house that isn't in perfect order. Assuming the cabinets haven't been torn off the walls, the roof is intact, there's no missing sections of the foundation, and the realtor doesn't ask me to sign a mold waiver, most damage can be fixed.
So my question - am I being unreasonable in looking at a house, seeing only 3 pics of the outside and dismissing it?
They don't put a single picture of the inside because most people can't see past the destruction that often exists in REOs. For people like you pictures would be useful, but agents are selling to the population at large--not just investors.
If you're specifically looking at distressed properties, I would not immediately dismiss it because it lacks photos. A lack of photos on these properties is the norm in my area, so the answer is likely yes, you probably are being unrealistic in expecting interior photos of REOs.
Sounds like a call or email to the listing agent might be your best option. It will take more time on your end unfortunately.
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I would say view them, or several of them, to prove to yourself, right or wrong.
If you view 7 or 8 and they are far worse than ones without photos of the interior, you will have proven your impression and can then remove "No interior photos" from your lists.
But, you might just find one that seems bad on the surface, but worthy of consideration.
If you are looking for a compelling done house, I agree with you. But since you are looking at fixer uppers, I say view them. What might seem extensive to one realtor is perfect for you. I would scope out a few and see them.
I think you are making a mistake. Often listing agents are not local for REO's and so the agent is too lazy to drive over and take interior pictures. My MLS will take an exterior shot, maybe their MLS is the same.
No pics doesn't mean it's heavily damaged. It just means it's not in great shape. Still may be a decent house. Really what do you expect from an REO? You should be basing your purchase on location, lot size, square footage, etc. You know the house is going to need work.
Thanks. The location on the last one I dismissed was pretty good - which is what prompted me to ask this question. You've provided some valid reasons for no inside pics and I will reconsider.
I was actually surprised as I expected more negatives confirming my decision to not consider.
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