In today’s housing market there are many properties for sale by the banks, lenders or corporations who have re called the loan for a selection of reasons. The properties are then considered as foreclosures. Many investors are looking towards these types of properties as good long term investments. In order to understand if the property is a good investment or a “money pit” it is extremely important to understand why and how it has become a foreclosure in the first place and make sure you take the appropriate action with my home inspection to prevent buying someone else’s liability.

With every foreclosure unfortunately someone has become a victim of hardship and has had to pay the price of loosing their home, rental or investment. Many vacate the property with no problems but there is an increasing number who are angry with the situation they have found themselves in and turn to the property to get some sort of revenge or satisfaction resulting in damage. It has been in my experience when inspecting numerous foreclosed properties to expect the unexpected. The damaged recorded has been from minor damage to the walls to major structural damage to the roof truss system. It is extremely important when considering purchasing a foreclosed property that a full home inspection is carried out to the highest degree. The foreclosed property will be offered for sale in an “As Is” condition, this means what you see is what you get including all the hidden defects and damage. If you purchase a foreclosed property without a home inspection you will assume all the risk and liability when closing the deal.

Foreclosure properties can be sold in a variety of ways and not limited to:

• Court steps
• Newspaper small adds
• Real estate companies
• Public and private auctions
• Private sale by owner

Very often at the time of you viewing and possibly at the time of you closing on the property, the essential utilities may have been switched off because of none payment of the previous bills. This effectively means you cannot check to see if the most important features (water, electricity, A/C, plumbing, heating, appliances, pool, spa, security system, and garage door openers) work correctly. It is imperative that before you part with any money (unless you want to take the gamble) that you arrange with the appropriate authorities to have the services switched on for a minimal period for testing. When you have this arranged this is your last chance to inspect your property and determine if the services are working or if it has been a victim of malicious damage.

Malicious Damage

Question: So what can you expect to find?

Answer. Anything and everything.

You need to remember that while the owner still occupies the property they can cause as much damage as they like and not be held responsible as it still remains their property until they are evicted. Most of the damage is incurred just before they vacate and is in most cases is very visible with drywall holes from punching or kicking to the more serious damage which cannot be seen by an untrained eye.

My experience has uncovered the following:

• Irrigation pipes cut underground
• Pipes with holes drilled in hidden areas
• A/C heating coils punctured
• Electrical wiring cut
• Cement poured down drain pipes
• Flooding internally
• Vermin (rats) placed in attic and drywall
• Removal of all appliances and pipes
• Cutting roof truss system

My 30 Point Home Inspection is designed to inspect as much of the property as possible, providing you with a detailed evaluation and report of the property allowing you to make a calculated financial decision of how much you are prepared to pay taking into account any damage discovered. The areas covered in my 30 Point Home Inspection are detailed below, cost are based on the size of the property and can be reviewed at www.homeinspectionforyou.com

Home Inspection areas covered

I am based in Windermere Florida and cover the whole of Central Florida coast to coast for all of the following inspections:

• Home inspection
• Pool inspection
• New construction inspection
• Pre inspection
• Roof inspection
• 4 point inspection
• Home watch inspection

My full credentials and qualifications can also be verified online or by contacting The American Society of Home Inspectors (ASHI) www.ashi.org, The Chartered Institute of Building (CIOB) www.ciob.org.uk and The Association of Building Engineers, (ABE) www.abe.org.uk