House Sleuthing

How can I as a realor help my buyers make informed choices about home inspections? That question is one that takes time and effort to answer especially as more and more buyers are looking at purchasing a bank owned home or HUD home. Most bank owned homes still allow you as a buyer to have a home inspection but make clear up front that you are purchasing the home in "as is" condition. It is a rare thing indeed to have a bank agree to do any repairs to a home. Most likely they will want to reduce the cost of the sales price for a major problem but for smaller problems you as a buyer are expected to make those repairs. That being said it is still important to have a home inspection for a bank owned home so the buyer can see just what they are purchasing. Usually you will have 10 days or so to do the inspection and notify the bank of any major defects. During the winter months the home will have been winterized and the banks agent will have to have it de-winterized so the inspection can be completed. That simply requires having the water turned back on as well as the gas and/or electric. As a realtor I work with several fine inspectors and can recommend one to you if you do not have an inspector you know and trust. The cost is usually around $200 to $250 depending on the size of the home. The inspection is paid for at the time of service and is not a refundable cost if the house does not close. However, it is better to lose $200 then to be stuck with a house that needs high dollar repairs which you are unprepared to make.