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Pot in my neighborhood

I put in an offer for a house in a neighborhood in Aurora where I found out there was a huge pot bust a couple months ago. Are Lenders/Banks typically aware of these types of issues? I did not have a real estate agent and found the home through my sisters husband (a construction company owner). I have good credit (FICO is 720), and steady income (employed for 15 years with State Farm insurance sales making over $88k/year). Should I just put in an offer with another home? I really do like this house. by tubajon525 from Aurora, Colorado. 9 days ago Reply


Chris Neuswanger (mtnmortgageguy)
#3 ranked lender in Colorado - 92 contributions

Lenders are not going to be concerned about a pot bust in your new neighborhood. If its otherwise a fairly safe neighborhood and this is not a ongoing issue I'd suggest if you love the house go for it! And if you need to discuss financing options give me a call at 970-748-0342 or check out www.mtnmortgageguy.com

9 days ago
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Sean Young (SeanYoung)
#2 ranked lender in Colorado - 1,112 contributions

It should not be an issue at all. The only time it becomes an issue is if it was a meth lab, then it would need to be professionally cleaned by people who specialize in that. If you need a great Realtor referral for this I have one for you and as a buyer, you don't pay for your real estate agent, the seller does. If you need to get pre-approved for a home loan you can also call me if you need too. Please check out my reviews on Google, Zillow, and Facebook, Loan Officer Sean Young. Email me at Sean.Young@nafinc.com and send me the address and I will look up the property to see if there are any other possible issues.

9 days ago
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Ralph Richard Guertin (ralph@absolutelowrates.com)
#1 ranked lender in Florida - 733 contributions

Hi, I don't see an issue with the POT bust, I also have some great realtors out that way I know and trust and could give you a referral. I would recommend using a trusted realtor as its pays for itself 10 fold. Call me if you need any help on the financing side, I just closed a loan for a State Farm agent last month. Actually the owner agents of several agencies choose me over other mortgage brokers when buying themselves...Ralph Guertin CrossCountry Mortgage 954-274-7725 Ralph.Guertin@myccmortgage.com

8 days ago
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,486 contributions

In regards to the lenders,,, The short answer is no.. Lenders are not aware of busts that take place in the neighborhood.. It's possible there might be something in your county records if the home you are interested in has had any issues such as a meth lab, murder or any other type of crime.. some states make this public record.. if it is, then it's likely the appraisal will make note of it... assuming it was a meth lab, then so long as the home has been eradicated properly and inspected, then it's typically not a problem. So on the lending side, no worries.. but be sure you get a home inspection and be sure they check to be sure the home you are interested in hasn't been use to grow pot or manufacture meth.. A home can be destroyed if either of these things have been done in this home. For pot growers, they will typically have excessive moisture which leads to mold.. for meth lab's, the deadly chemicals can soak into the drywall.. the only way to remove it is to replace it.. Whether or not you should place an offer??? Only you can answer that.. I'm a preferred Lender with California and Arizona being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / LendUS, NMLS 1938/ AZMB0121893

8 days ago
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,817 contributions

That is not anything lenders look at... But you should always consider the neighborhood as a buy. To that, I had a person ask me the other day about this too... No, we don't look at criminal history records of loan applicants either.

8 days ago
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