Why a Home Inspector Is Vital in Buying a Foreclosure or REO Home

The key to buying a home from the bank in this market and in these times is ฝากขายทาวน์เฮ้าส์ to know the history of the home, as much as you can dig up. The home inspector you hire should be one recommended through a realtor, or appraiser, or some other business professional in the real estate industry. The problem with a bank owned property or whats called an REO property is they usually have sat on the market for a long time with all the utilities off, and if in a bad neighborhood it may not be secured well enough. When I was a realtor, I noticed that if the property was a multifamily, it had a greater chance of being vandalized and broken into because they are located in the toughest area of the city. That also goes for any other kind of property that is located in this same area.

My ex-wife and I actually bought a home that was a 1920's home, but the previous owners did no work to the home.We were left with a big roof problem, and it leaked and we needed to fix the bedroom walls because of water seepage.

A competent home inspector will check the mechanics in the house, such as the heating system, water heater,

Air conditioning, roof, siding of the home, deck, and porch. They will also check that if they were any renovations, that everything is up to code. A home inspector will usually be very thorough because they could be in trouble if buyers bought the home, and something major was wrong that was not pointed out in the inspection.

The home inspector is paid on -site when services are rendered. It usually costs between $400-$500 per inspection. They will usually give you a report or manual on all things they checked and the condition. You need to get this report to stay on top of potential future issues. The bank owned properties have more potential problems with security issues, and because they are not purchased for some time, usually 6-18 months, sometimes longer. Short sales, which my company mainly deals, are always in better condition because the sellers often stay in the home until right before foreclosure, or through the short sale process. They are lived in a lot longer, in turn,maintaining the condition of the property at a higher level than your typically REO asset.

In summary, you need to do your due diligence on any home you buy, but especially an REO or bank owned property. Hire a home inspector to go through the main points of the home. The mechanics in the home, roof, and exterior siding. Leverage their experience to get a great deal on your new home.