Property Condition Report
An inspection is performed on HUD homes and a Property Condition Report is completed.
I find these reports to be frequently incorrect and misleading.
Based on the report, in some cases, one might be led to believe that they could get a normal FHA loan, but once they spend money on an inspection and possibly an appraisal, they find that the house does not qualify for such financing. HUD will do absolutely nothing to correct the conditions which were inaccurately reported.
On one particular house it states:
-
Regarding plumbing: The plumbing lines were checked using air pressure and no leaks were detected.
- Maybe they did this, but at this point in time, the copper pipes have been stolen, yet the report has not been changed.
-
Water heater: Water heater was inspected and appears to be functional with no apparent defects.
- They can not do a sufficient test without water. A visual inspection is not enough.
-
Sewage System: Based upon inspection the sewage system appears to be functional with no apparent defects.
- The best that they could do was to state that the pipes were in place, but they could not tell if they leak or if they are clogged.
-
HVAC: The HVAC was tested with active electric and appeared to function normally.
- The fan blows, but the heat pump is not operating and neither is the auxiliary heat.
Supposedly, someone comes by on a weekly basis to inspect these properties, so they should notice that the plumbing lines have been removed.
Also, one would think that the company managing these properties would see that the sidewalks were shoveled, but that never happens.
Actually, I am not sure what the function of the managing company is other than to get paid for doing nothing.
Do not rely on the disclosures from HUD.
Comments(2)