Foreclosure Homes Should you hire a Home Inspector?

Many foreclosures are available on the market. Many more homes that are expected to foreclose are soon on the way. So if you are a buyer looking to purchase a home and get a decent deal you are in luck. Most foreclosures are in poor condition and you should expect to put some dollars into the home for repairs. But how extensive are the repairs? Maybe you seen the property a few times and have a ballpark figure. Maybe you have a friend or received a few estimates from contractors. You are ready to move forward and get the deal done.... Stop! This is where many people wish they wish they hired a professional licensed or certified home inspector.



Let me explain why you need a home inspection or why it's worth the extra $300.00 - $700.00 (average fees on a average home). A qualified home inspector is trained and experienced to look at the general systems and components of a home. Some of the larger items include - Exterior, Roof, Structures attached to home, Foundation, Attic, HVAC, Water Heater, Electrical, Plumbing, and interior room by room. I almost am certain through the entire home inspection process the home inspector will find several defects/deficient or items in need of repair that you did not even notice. Most times these defective items total several hundred dollars to several thousand dollars!


Also because the home inspection may reveal defects not contemplated when you made your offer, so long as you comply with the terms of the contract, you would be able to either terminate the transaction (and receive any deposit back) or negotiate a price reduction. Just another advantage to having a home inspection.

The home inspection should be a major factor when purchasing a foreclosed home. Remember you buy the home in most cases ''as is'' and it is buyer beware! It is in my opinion just not worth the risk of not hiring a professional licensed or certified home inspector (depending on your state laws because several states require home inspectors to be licensed).

Happy house hunting and think twice about hiring a qualified home inspector!