Work the foreclosure

 

With the increased rate of foreclosures nationally, a property inspection is extremely important to educate and protect buyers and real estate agents alike.

Foreclosures are mostly sold "as-is" by the lender and do not always carry the disclosure obligation as a normal real estate transaction. Although it is sold "as is", it is important that your client know the extent of defects and repair costs.

A thorough inspection of the property will not only identify material defects but will also educate your buyers regarding the restoration of the property, helping them anticipate potentially thousands of dollars in unexpected repairs or replacement of components.

Issues commonly found with foreclosures:

 

-Conducive termite conditions
-Damage or removal of plumbing components
-Damage or removal of pool mechanical equipment
-Damage to AC condensing unit and/or removal of components
-Damage to appliances
-Damage to pool surface and screen enclosure
-Faulty electrical systems and components
-HVAC system problems
-Water Penetration and Damage issues
-Interior structural damage
-Roof damage not immediately evident
-Other hidden damage

Dan Marion

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