It is especially important to make sure you get a Professional Home Inspection done when a home is vacant as in the case with a HUD owned or Bank owned property as well as with a “flip” properties. These properties are owned by entities who have never lived at the property and therefore cannot attest to the condition of the property. And although a thorough home inspection is definitely helpful, even the best home inspector may not catch everything. There are 23 different inspections a buyer may order for their property including a pool inspection,inspections for mold or radon gas and roof, all of which are outside the scope of a normal home inspection.
When a home is owned by a Seller who has occupied or is currently occupying the property, a Transfer Disclosure Statement is required. This Transfer disclosure is required even when a property is a “flip” but be careful because there may not be too much information furnished. A “flip” property is a property where an investor purchased the property in effort to fix up and flip for maximum equity. The investor often only owns the home for a few weeks up to a couple of months. A Transfer Disclosure Statement should be provided to the Home Inspector prior to the home inspection in these cases. When the home inspector is aware of the issues the seller has disclosed it makes their job easier. In most cases the Home Inspector can actually do a more thorough job so long as the seller properly disclosed everything. www.teamreliablerealty.com