Well I wanted to see what other professionals thought about the current opinion regarding bank owned / foreclosed homes getting inspected.
Business has been a bit slow due to the holidays & economy, although there are still homes being bought. The Sacramento Bee listed about 1000+ bank owned homes that were sold in the general area in the past 30 days. Which is a very good sign of things to come.
The greater part of my inspections have been on bank owned homes sold as-is. The as-is part I think is giving the wrong impression to some people. Giving them the feeling that they don't need an inspection because the bank will not make repairs. Even though that is only one aspect of an inspection. Generally the inspection is a snap shot in time of the home. Which makes it a great tool to reference when upgrading or making any personal changes to the home, as well as a good document to use in the future to check status of appliances or condition of item when home was bought. Granted bank owned home inspections are not as detailed as a standard home inspection. Only due to the bank owned homes usually having a long list of little cosmetic issues that wont be listed in the report.
The mobile home parks are now starting to require inspections on all units sold for health & safety reasons & for liability reasons.
Which brings me to my next point.
I have adjusted the inspection prices on my web site for bank owned homes. The inspection process is very important for any home buyer. Hopefully the price reduction will help home buyers decide to get an inspection. The piece of mind, health & safety are priceless.
Let me know what you think about this and if it could be a benefit to anyone.
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