Wednesday, June 10, 2009

Be sure you test the plumbing on a REO

I recently did an inspection for a client in Vallejo looking to buy an vacant REO (bank foreclosure). Initially the water was off but we had the bank turn on all the utilities to be sure we inspected all systems possible. Good thing we did, the furnace igniter was burnt out and the copper pipes in the crawl space had been removed for the scrap value.
In the end the bank revised their position of : "no adjustments were available because of the bargain offered up front".
An inspection costing $300 to $400. can easily save you 10 to 20 times that amount in grief and hard earned cash on any property by being sure you know what you have to work with.

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