Foreclosure Inspections


The best way to protect buyers of foreclosed or bank owned properties is to hire a qualified home inspector.  Those who buy foreclosed homes often forgo an inspection because the property is being sold as is.  They assume that since the seller (the bank) won't fix anything, there is no need for an inspection.  What they fail to understand is that the purpose of an inspection is not to compile a repair list for the seller:  It is to be informed about what they are buying before they buy it. 
Home inspections are not a prediction of future performance, but can pinpoint existing problem areas.

What does the inspection cover?
 

A thorough property inspection will include the readily accessible systems and components or a representative number of multiple similar components listed below:
Roof:  Shingles, flashings, chimneys, vents, gutters, drip edges, skylights, downspouts, and other visible roof related items
 
Attics:  Insulation, ventilation, exposed roof framing, wiring attachments, and other visible related items
Plumbing and Fixtures:  Supply and drain, waste, and vent piping, water pressure, hose bibs, sinks and faucets, bath/showers and toilets, water heaters, and fuel gas piping
Interior:  Floors and ceilings, walls, stairs (if applicable) and banisters, sinks, built-in cabinets, shelving, built-in appliances, location of smoke detectors, automatic door openers, and other visible interior-related components
 
Heating and Cooling Systems:  Furnace, air cleaning components, ductwork, air conditioner and lines, and other visible related HVAC components
Electrical Systems:  Service entry and clearances, electrical panels, switches, light fixtures and outlets, visible wiring and junction boxes, grounding system, and other related electrical components  
Basements, Crawl Spaces, and Foundation:  Foundation system, floor framing system, under-floor ventilation, foundation anchoring and cripple wall bracing, wood separation from soil, and insulation 
Exterior:  Surface grade directly adjacent to the building, doors and windows, attached decks, porches, patios, balconies, stairways, and their enclosures, wall cladding and trim, portions of walkways and driveways that are adjacent to the building
Fireplaces and Chimneys:   Chimney exterior, spark arrestor, firebox, damper, and hearth extension