Warning Buyers to Have Foreclosure Home Inspected Diligently
The American Society of Home Inspectors warn buyers that having a foreclosure home inspected diligently is as important as inspecting a home where the occupant home owner is available – maybe more so. Seller is required to disclose all known significant defects. But, if a foreclosure home is owned by the bank, the bank has never lived in the property, so it is not likely there will be very much information on any disclosure statements. In this situation, it is especially important to take the necessary steps to know the true condition of the property.
Homes usually go into foreclosure because the owner can no longer afford the mortgage payments. As a result, maintenance and repairs get neglected as well. It is critical that buyers know the condition of the structure and all the major systems. An ASHI Certified inspector will provide that information.
Even if the bank is unwilling to negotiate over any discovered defects, the information the buyer receives from a through home inspection is invaluable in making an informed decision. And even if there are plans to do significant remodeling, why risk discovering problems with the furnace, foundation or structure after you close escrow and begin work? Better to eliminate any big surprises and know up front by getting a detailed home inspection following recognized standards of practice.
Homebuyers and sellers are urged to retain the services of a qualified inspector’s trained and experienced in home inspection. It is very important that the inspector be a member of a well-founded professional association such as ASHI. Established in 1976, ASHI is the largest inspection association in the country. ASHI inspectors must adhere to ASHI’s
Code of ethics and follow the Standards of Practice developed and maintained by the association. Recognized by the State of California, these Standards of Practice are considered the source for Home Inspector Standard of Care by the real estate and legal communities.