Renee post reminds everyone that with Foreclosures and REO Properties it is more important then ever to have a trained Home Inspector to evaluate the your purchase so there are no surprises.
I was shocked. Some days on home inspection days you fret a little because you just know there are issues but yesterday I didn't even squirm.
The house was built in 2005 and appeared "solid".
Until the Home inspector turned on the water and everything (except the bathroom sinks) started leaking like a sieve. Including toilets. Including a hose bib. Including pipes in walls. Including the roof (well turning the water on didn't cause that one!) Including the kitchen sink.
Here is the moral of the story for any buyer in any state: GET A HOME INSPECTION!
I always recommend one and I always leave it up to the buyer to decide if they can live with the "issues" especially in these "as-is" homes sold these days.
Even if you think the home is "solid".
Especially if it is a "newer" home. Newer homes here that were sold at the height have issues because they were slapped up by builders and maybe bought by "investors" who rented them out and didn't turn in minor issues to warranty - because the renters never told them - then they became bigger issues later. Especially after a home sits vacant in the elements without utilities.
Definitely if it is a "distressed" property with deferred maintenance.
I think the fee is a small price to pay to alert you to potential disaster in the future and hopefully you have a home inspection contingency to get you out of your contract in the event things go horribly wrong.
Even if you lose that inspection fee & end up walking away from that home - you may find yourself saving loads of money in the long run.