Foreclosure Inspection

Don't buy any foreclosure property without inspection

Avoid high risk: Foreclosure homes are distressed and neglected homes. Owners of foreclosure homes are in trouble. You cannot expect homeowners in financial difficulty to maintain and repair their homes with pride of ownership. Expect the worst. Foreclosure auctions without home inspection are great risk.

You can do it: Learn how you can do your own foreclosure inspection. This helps you do it by yourself and accompany professional home inspector during inspection. Learning home inspection essentials will pay off if you plan to buy and sell foreclosure homes in the future.

Home inspection business is regulated in some states while some other states do not have any licensing procedure.

Beware of exclusions and limitations: Read the fine prints of home inspection agreement. A professional home inspector expects you to sign home inspection agreement before starting and even scheduling home inspection. You will find many exclusions and limitations in home inspection agreement/contract. These exclusions and limitations may vary from one inspector to another depending on how home inspection business is regulated in your state. Second, professional home inspectors are members of state and/or national associations. Each professional home inspection association has its own code of ethics and code of conduct. Home inspectors adhere to these home inspection rules and use standard home inspection contracts suggested by their professional associations.

Note that many professional home inspectors do not cover termite and mold inspection. In such situations, you need to hire a termite inspector or mold specialist if you suspect its existence.

Posted: November 5, 2008 ...................................Post a comment
Blog category: Blog menu > Foreclosure inspection
Related blog posts: Bank foreclosures - Government foreclosures