Critical Issues of Foreclosure Home Inspection
You need to get detailed information on foreclosure property even before you start home inspection.
Issues that affect value and security of foreclosure house
Age of foreclosure home: -- years old. (See seller’s flyer, double-check with the dates on old equipment. (Look under toilet tank lid)
Permits for alterations/additions (even remodeling requires permit in many counties): -- Obtained -- Not obtained
Land slopes: -- away from -- toward foreclosure house? Further investigate for potential water problems (surface slope of no more than 1/8” per foot is fine)
Flooding risk (check with county, ask seller/seller’s agent): -- No -- Yes. Consider flood insurance.
Trees: -- touching roof/house . If touching, premature deterioration of roof, possible damage to walls and windows.
Touching electric wires? Contact electric utility company for free tree trimming and cutting service (fire and safety hazard).
Major damage to property: -- Observed -- Not observed
Weather Condition: -- Rain/snow -- No rain/snow. Try to schedule your inspection immediately after rain or snow to better test the roof, basement, and foundation for water penetration.
Overall observation: -- Not interested in purchasing the property -- Consider purchase. Proceed further.