Inspections for Short Sales

With the economy still in shambles, there is an influx of properties in foreclosure. In the case of a foreclosure, banks, otherwise known as the mortgage lender, must then float the costs (property taxes) associated with the property. In the industry to make money, banks are often eager, if not desperate, to get rid of the property, which results in a short sale.

Though it is essential to have a short sale inspection conducted when purchasing any home, it is of even greater importance to have a short sale inspected. As with all properties, there are bound to be problems with short sales. However, there are more problems and more expenses associated with short sales for several reasons.

• Banks/short-sellers are not required to disclose the condition of a property.
• Short sales may suffer from weeks, months, and years of neglect – leaks, mold, infestations, and malfunctioning systems.
• Short sales often do not allow negotiating room for damage, repairs, and updates.
• Many times, the previous owners fell short, financially, and didn’t keep up with the maintenance and condition of the property.
• To keep costs minimal, sellers skimp on maintenance and repairs, merely performing patchwork or band-aid jobs.
• Buyers have the tendency to jump at the price, without knowing all of the details.

When buying a short sale, you should be even more skeptical about the overall condition of the property, as well as every minor detail. Although you may have though you found your dream home, you have no idea what lies beneath the surface.

A short sale could be your worst nightmare, which is why you need to hire a professional to inspect the home and property. Certified Home Inspectors will conduct a thorough inspection of every aspect of the property and provide you with a detailed report as to the condition of each.

Our professional inspectors know exactly what to look for, especially things that are not visible by the average person. Our inspectors are:

• All licensed, meaning they are highly skilled and knowledgeable
• Knowledgeable from both an architect and contractor’s perspective
• Experts in the most current safety codes, rules and regulations
• Familiar with the costs and process of repairs and renovations
• Understand different systems and how they should function
• Well-versed with the legal rights of buyers and sellers
• Able to answer questions and offer advice