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I've got that sinking feeling...

Reblogger Hella Mitschke Rothwell
Real Estate Broker/Owner with (831) 626-4000 CA #01772851 HI #RB-21268

This should actually be pretty scary to buyers since the listing agents of foreclosures don't have to disclose anything on behalf of their client (in this case Fannie Mae) even if they knew about it.

I suggest that before buying a REO property, buyers check out permits that have been pulled on the property going back several years.

Original content by Fred Hernden, CMI InterNACHI 10041206

       I almost had an inspection today... I was standing right there in the living room talking face to face with my client and the Realtor that had referred me to them (Thank you, you know who you are)).

Whenever I have an inspection booked, I always do my homework waay before I go to the property. So I did my usual permit search and I found something quite interesting. The house was built in 2004, all the usual permits were there for new construction. But the two newest permits was all too revealing. There was one pulled in November of 2009 for "Potential Ground Settling", then the latest was in September of 2010 for "Ground Settle Repair". That's two within a year!


This time of year is the worst for sink holes here in west central Florida. Especially right now because of the much publicised activity lately in the Seffner area, close to Tampa. A huge hole opened up right under this guys house, literally right under his bedroom while he was sleeping in his bed. He slid right down the mattress and into the hole and it swallowed him up. They never found him! Bazaar but true!


So the terms "Potential Ground Settling" and "Ground Settle Repair" is a huge red flag! It wouldn't have been so bad if we knew in advance, but it was not disclosed. Fannie Mae owns the forclosure, I was told they don't have to disclose anything... not my area of expertise... anyway, that's what I was told.


So, before I started my inspection this morning, I showed the client the permit and gave them the advise to research this further before making the investment in a Home Inspection. Talk about wide eyes and dropped jaws! I told them to call the two companies on the permits and see if they could get a copy of the report to see exactly what had occurred. The house was totally remodeled inside and out which made it even more scary. I told them when and if they were comfortable with their findings I would be more than happy to return and do the inspection for them.

So, I almost had an inspection this morning. I also felt really good about my job, the couple thanked me over and over again for discovering this potential disaster of a purchase. It may turn out to be something small, but best to know now!!


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                                 Fred Hernden 

                    Superior Home Inspections

                           813-526-0900

 

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Tampa, Wesley Chapel, Lutz, Land O Lakes, Odessa, New Port Richey, Trinity, Florida

“My mission is to provide superior quality home inspections to my clients to ensure peace of mind so they can confidently make the largest investment they may ever make!"

                   Please visit my website at: www.SuperiorHomeInsp.com for details!

 

Posted by

Hella Mitschke Rothwell, Broker/Owner/REALTOR 

 

Let me be your independent real estate broker for oceanfront and oceanview property in California and Hawaii.  If you are a seller/owner, I will travel to your property to help get it ready for sale, then list and market it. If you are a buyer and we have a Buyers Representation Agreement in place, I will preview property on your behalf anywhere in California and Hawaii.  Please call me to discuss how I can help you.

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Member: Honolulu Board of REALTORS; National Association of REALTORS; Hawaii Association of REALTORS; Del Norte Association of REALTORS; California Association of REALTORS; MLSListings, Inc., the premier MLS listing service in Northern California.

 

________________________________________________________________

Hella Mitschke Rothwell (R)

Real Estate Broker/Owner/Realtor®
Licensed in California #01772851 & Hawaii #RB-21268

Tel. 808-226-1095 or 831-626-4000 

Fax 1-877-822-9332

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Disclaimer: Hella Rothwell does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.

Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

These sinkholes and earth shifts are scaring people. We have a lot of sinkholes in our area. They are caused by the underground caves giving way I have been told.

Mar 09, 2013 11:09 AM
Hella Mitschke Rothwell
(831) 626-4000 - Honolulu, HI
Hawaii & California Real Estate Broker

Debbie: Thank heavens we don't have them here. Scary. We do have flood zones, though, and there are a lot of would-by buyers asking "what about tsunamis?" Even if a property is not in a food zone, you can't even guarantee that it won't happen. And then we have earthquakes in California, etc. etc.

Mar 09, 2013 11:21 AM
Fred Hernden, CMI
Superior Home Inspections - Greater Albuquerque Area - Albuquerque, NM
Albuquerque area Master Inspector

Hella, Thank you! Have a great day!!

Mar 09, 2013 10:53 PM
Hella Mitschke Rothwell
(831) 626-4000 - Honolulu, HI
Hawaii & California Real Estate Broker

Fred: We need to thank you for this important information.

Mar 10, 2013 12:32 AM