Sonoran Property Inspections has done allot of Phoenix Home Inspections that have been in forclosure and owned by the bank. Most all of you know that the banks are not in the property maintenance arena and put the homes out on the market in an "as is" condition. I came across a condition yesterday that I had never seen and was pretty surprised by it. I usually go into the home first thing to survey the home, turn on lights, check under sinks before turning on any water ect.. Upon doing this, I discovered that the water was off on the building, no big deal, sometimes it is on at the meter and off at the water shut off for the home. I usually turn this on if it looks to be in good condition and then can test the water using fixtures in the home. I went outside to turn the water and and this is where it gets interesting: There was NO Water Service riser! Thats right. Someone had stolen the water service right off the side of the home for the copper. I have to tell you, I have never seen this happen before.
The question I have for all of the foks here is this: Why would a Bank trying to sell a property not get this corrected so that water is on to the building and help this home sell faster? The second question is this: Why would the listing agent NOT get this fixed to sell the home faster?
I am wondering how FHA will treat this condition. I am guessing that they will not approve the loan since there is NO water to the building. The bank isn't going to pay for the riser to be installed as we know, so how does the home ever sell with an FHA loan , it seems that everyone is pointing to someone else to get it fixed. The buyer can't pay for this becouse they don't own the home, the FHA people say they won't lend becouse the home has no water. The bank says you are buying in an as is condition. This seems like a classic Catch 22! Crazy is what I say!
Sonoran Property Inspections is here to help all of you with your home inspections and questions on home construction, give us a call at 480-415-7977 .