I have inspected many foreclosure properties over the past year.  Unfortunately, too many scheduled foreclosure inspections are postponed and re-scheduled because the utilities have been turned off by the bank. This is becoming a very big problem for all involved parties. Trying to get the homes de-winterized and water, power and gas re-connected seems to be virtually impossible at times.  This situation really causes quite a dilemma for a home inspector. Most inspectors, including myself, will not turn water or gas valves on due to liability issues and insurance restrictions. Most agents understand our limitations, some agents will turn valves on, which I certainly do not endorse. I have witnessed water leakage within a minute of turning the main water valve.

From my perspective, the industry needs to establish guidelines for foreclosure inspections. Banks should be required to leave the power on. Plumbing winterization makes sense, but an improved process for temporary de-winterization must be implemented. Improved communication between the banks and real estate agents would be very beneficial for everyone involved in the transaction.

 
Posted by John Evans on 01/27/2010 05:35 AM   Comments (2)   Foreclosure Inspections in the ActiveRain Channel   foreclosure  
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John Evans

Bel Air, MD

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AIM Home Inspection, Inc.

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