So you’ve made an offer on a foreclosure and now you want to have a Home Inspection. The only problem is the home is winterized and it’s the middle of winter. You know the property is sold “As Is” but you want to make sure the pipes haven’t frozen and the heating system is functional. If you are getting a loan on the property your appraiser is going to want to see the water and heating system are all functioning as well. So what are your options?
First you need permission from the bank through the listing agent that they will allow the property to be un-winterized for inspections. If they will, most likely you will need to use their plumber. The cost can be around $250 to un-winterize and $250 to re-winterize it depending on the type of property. Make sure you negotiate who pays for that in your offer. At this point you really only have 2 options:
1) You do a dry inspection, test everything else in the property, even run compressed air through the pipes to see if there is any freeze damage. Have the appraiser come out and test everything but the water and heat. About a week before closing, have the property un-winterized, pay for the appraiser to come back out and if the bank allows it leave the heat on until closing.
2) You will need to have the property un-winterized and have your home inspection and apppraiser come out to the property on the same day. Some lenders are not coopertative, check with yours. The property will be re-winterized within 24 hours until closing. You will be responsible for un-winterizing it again after closing.
These issues can be tricky, make sure you have an agent who is familiar with selling foreclosures to walk you through the process.
Originally posted on www.theforeclosurehouseforyou.com