So you’re buying or thinking about buying a foreclosed property…great!!! make sure to get an inspection!!! A home inspection will identify major repairs and itemize the to see if they are something your willing to deal with. It also outlines the issues that may require professional assistance. This is your ultimate “to do list” if you proceed with buying the property.
First thing is to make sure that all the utilities to the home are turned on, Including the gas, electricity, water, etc. It is the banks or the realtors job to make sure these items are turned on before the inspection so the inspection can be preformed properly. Without these items turned on it is impossible know the condition or the extent of repairs. Foreclosed homes may have been vacant for quite some time and may have some sort of antifreeze to protect the plumbing from bursting in the cold winter months
This article is not trying to discourage you from buying a foreclosed home, but not having a home inspection just cause there is no bargaining power is silly. Knowledge is a powerful tool to have in your tool belt when your buying a property know what you up against and save your self some money and grief.