Top Five Conditions Found In Foreclosure Properties

One of the local HouseMaster home inspectors came in the office the other day and distributed a flier that identified five conditions that are “most likely to be encountered when buying foreclosed properties.”  I have never been on one of their inspections so I can not speak as to the quality of their inspections but this flier was an interesting read.  I thought that it might be of interest to someone considering the purchase of a foreclosure property.

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1- Moisture Problems

When a house is closed up, the climate is humid, or there are ongoing water leakage issues visible, mold is commonly found – and has the potential to be extensive. When a foreclosure home is boarded up, it exacerbates the situation, creating a high humidity environment in which mold thrives. HouseMaster inspectors have seen homes covered in black mold after just a few weeks, but these problems can be prevented and eliminated through proper clean up and ventilation.

2- Defective, Leaky Gaskets, Valves, and Hoses

It’s common for home inspectors to find leaking vales, gaskets, and appliances in homes that have been foreclosed or vacant for an extended period. No matter how big or small, every appliance or plumbing fixture in a home includes at least one valve, gasket, and/or hose which can dry out – creating gaps and leakages. Freeze damage can cause a burst pipe, damaged valve, or gushing water. Even a minor leak can cause consequential water damage and/or mold.

3- Vandalism

Foreclosed homes may be subject to damage from vandals, frustrated homeowners, or thieves looking to steal anything of possible resale value. HouseMaster inspectors have found homes stripped of everything from kitchen cabinetry to plumbing, wiring, and even structural elements. Usually these items are removed without consideration for safety or consequential damage. Home buyers should factor in the cost of new appliances, fixtures, walls, ceiling or other repairs needed when considering the reduced price of the property.

4- Unwelcome Guests

Overgrown vegetation, broken windows, scattered debris, and water leakages are an invitation to many unwelcome guests such as insects, rodents, and raccoons. Whether these vermin are present for a short or long period, they can cause damage and create secondary problems such as an unsanitary buildup of droppings, fleas, and/or other health concerns. Home buyers should arrange for proper cleaning and extermination prior to inhabiting a home with these conditions.

5- Blocked or Damaged Waste & Sewer Lines

Issues withe house drains, and waste and sewer lines are also not uncommon. Deliberately blocked lines may result in overflow damage – an inconvenience that could be costly to repair. In other cases, the normal buildup of waste products in the lines will harden and contribute to flow restriction or blockage. Even minor leakages can cause soil to dry out in the wrong area, which can contribute to pipe movement and damage. Home buyers may consider sewer line or drainage pipe inspections to assess potential issues.