Why should I get an inspection on a foreclosure?

Wow…I’ve been so busy this week I missed Thursday!  So here is the 360° Minute on Friday.  In my travels I met a guy who just purchased a foreclosure.  He was telling me about all the things he found wrong with the house.  He figured home inspections are of no value as a bargaining tool, since banks don’t negotiate on “as is” properties and as an added disincentive, banks selling properties “as is” have no legal responsibility for any lurking defects.  While that is true, you should still get an inspection and here’s why.

Would you buy a car without knowing whether it has a transmission?  The same premise holds true for a house, regardless of whether you intend to live in it, or fix it and flip it.  You should always get a home inspection before buying a property, especially when you’re buying a bank-owned foreclosure.  In such cases, it may be impossible to find out how well the home was cared for, or whether major damage was done right before the past owners left the property. Ask the bank how much time you have after your initial offer to have an inspection performed, and schedule one immediately.

If it goes well, you’ll enter into the deal with peace of mind and a better idea of what repairs you’ll have to deal with. That alone is worth the price of an inspection. If the inspection reveals a costly disaster, you can back out of the deal and save tens or even hundreds of thousands of dollars.

So happy house hunting and hope everyone has a great weekend!!

At Berenz Home Inspections 360° we carefully inspect the interior and exterior of your home.  With every home inspection, we inspect and include a wood destroying insect report at no additional charge.  I invite you to visit our website to see all the services we cover.

Berenz Home Inspections 360° is New York State licensed and insured. We offer competitive rates, quality service and provide same day reporting.  We are proudly serving all of Nassau and Suffolk counties, so call us today to see why we are becoming one of the leading home inspectors on Long Island!!

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