La Jolla Home Inspector Offers Tips On Buying A Foreclosure

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Home Inspector with Poway,La Jolla,Del Mar,Mira Mesa,Carlsbad,Escondido,Temecula

La Jolla Home Inspector Offers Tips On Buying A Foreclosure-  I just inspected a 6900 square foot home on a hillside overlooking the ocean in La Jolla, CA. The bank foreclosed on this home halfway through construction- it seems the builder skipped town! I was told there was $1.2 million just in concrete work already done. That's a lot of concrete! You'll see why when you watch my video. I have never seen such a massive retaining wall as the one built around this home!

 

 

If you've ever thought about buying a foreclosed home or short sale, here are some simple tips to avoid getting a raw deal. These homes may look like a great deal, but without a proper inspection beforehand, you could end up with a money pit. If you're not careful, you can start putting money into the home and, before you realize it, you're spending more than the house is really worth.

 

 

Moisture: One of the most common problems is moisture. Moisture problems can come from roof leaks, water penetration at the foundation or balconies, or from leaks at plumbing components. Excessive moisture conditions can then lead to mold contamination which can be costly to repair.

Pests: Many of these homes sit vacant for months, so wood-destroying pests move in and may cause damage to the structure. Rodents and other small animals may also move in. It's not uncommon to find attic areas that have been visited by raccoons, opossums, or other critters.

 

 

Neglect: Seals in unused appliances can dry out or deteriorate and then leak when tested during a home inspection. Neglect of heating and cooling systems, roofs, exterior paint, and major appliances as well as cosmetic issues like damaged drywall, carpeting, or other components can also add to repair costs.

 

 

 

 

Vandalism: Vandalism is also a concern with vacant homes. Copper prices have skyrocketed right along with gold and silver, and air conditioning units, with their high copper content, are an easy target for thieves. They can be quickly disconnected and carried away. Copper wiring and water piping is frequently stripped from these homes and an unsuspecting buyer may be unaware of it.

 

 

La Jolla Home Inspector Offers Tips On Buying A Foreclosure- Steve Stenros- First Choice inspections, a La Jolla home inspector, can be reached for appointment at 888-335-3040. Steve is a CREIA-certified inspector with the MCI designation. Clients receive a FREE lifetime appliance RecallChek with every standard home inspection.

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Re-Blogged 2 times:

Re-Blogged By Re-Blogged At
  1. Gene Riemenschneider 07/10/2011 01:49 PM
  2. Dan Edward Phillips 07/10/2011 11:48 PM
Topic:
Home Buying
Location:
California San Diego County La Jolla
Groups:
Active Rain Newbies
Realtors®
Posts to Localism
Dedicated Bloggers
VBloggers
Tags:
foreclosure
la jolla home inspector

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Rainmaker
1,427,988
Gene Riemenschneider
Home Point Real Estate - Brentwood, CA
Turning Houses into Homes

Very good post Steve.  This is something home buyers should read.  Sometimes they just get caught up in the thrills and features and do not take a close look.

Jul 10, 2011 01:47 PM #1
Rainer
51,637
Jen Giraud
American Home Shield - Dallas, TX

I'm with Gene! Great post and definitely a must see for buyers considering short sales and foreclosures. Thanks for sharing!

Jul 10, 2011 01:48 PM #2
Rainmaker
137,399
Steve Stenros
Poway,La Jolla,Del Mar,Mira Mesa,Carlsbad,Escondido,Temecula - San Diego, CA
CREIA MCI, ICC, ACI Home Inspector,San Diego

Gene & Jen: Foreclosures and short sales definitely are a bit more complex than a traditional sale! Thanks for your comments!

Jul 10, 2011 02:14 PM #3
Rainmaker
708,988
Dan Edward Phillips
Dan Edward Phillips - Eureka, CA
Realtor and Broker/Owner

Good Evening Steve, very good input for buyers of an REO or a short sale to consider.  Knowledge is key in these types of transactions.

Jul 10, 2011 05:39 PM #4
Rainmaker
137,399
Steve Stenros
Poway,La Jolla,Del Mar,Mira Mesa,Carlsbad,Escondido,Temecula - San Diego, CA
CREIA MCI, ICC, ACI Home Inspector,San Diego

Dan: Unfortunately, it looks like these types of homes will be on the market for quite a while yet.

Jul 10, 2011 06:26 PM #5
Rainmaker
649,541
Barbara Hensley
RE/MAX Properties - Rockwall, TX
Homes for Sale in Rockwall County, Texas

Steve - I always say that some of the best information in ActiveRain comes from Home Inspectors and this is certainly true of this post.  I have booked it so that I can come back to add to my buyer tips package.  Thank you.

Jul 10, 2011 11:45 PM #6
Rainmaker
137,399
Steve Stenros
Poway,La Jolla,Del Mar,Mira Mesa,Carlsbad,Escondido,Temecula - San Diego, CA
CREIA MCI, ICC, ACI Home Inspector,San Diego

I'm so glad you found it useful, Barbara!

Jul 11, 2011 04:16 AM #7
Rainer
73,111
David Companik
Keller Williams Realty - The Woodlands - The Woodlands, TX
Realtor ▪ The WoodlandsTX ▪ davidcompanik.com

Excellent overview, Steve. I'm sure buyers in the La Jolla market area will appreciate this post, and we in other markets can also glean a lot.

Jul 12, 2011 08:46 AM #8
Rainmaker
137,399
Steve Stenros
Poway,La Jolla,Del Mar,Mira Mesa,Carlsbad,Escondido,Temecula - San Diego, CA
CREIA MCI, ICC, ACI Home Inspector,San Diego

Thanks for your comment, David!

Jul 12, 2011 06:24 PM #9
Rainmaker
508,184
C. Lloyd McKenzie
Albuquerque, NM
Living Albuquerque

Good Evening Steve:

Your post was quite informative.  It is a great tool for would be investors and those looking to buy foreclosure. Very good post.  I especially enjoyed the video

Aug 08, 2011 04:06 PM #10
Rainmaker
137,399
Steve Stenros
Poway,La Jolla,Del Mar,Mira Mesa,Carlsbad,Escondido,Temecula - San Diego, CA
CREIA MCI, ICC, ACI Home Inspector,San Diego

Lloyd: The videos are a lot of fun to make and they bring great SEO!

Aug 08, 2011 04:16 PM #11
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Rainmaker
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Steve Stenros

CREIA MCI, ICC, ACI Home Inspector,San Diego
I welcome your home-related questions!
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