Foreclosed homes and short sales are a common enough occurrence that it is not unusual for a potential buyer to come across them while home shopping. Recent events pertaining to the pandemic may cause the number of short sales and foreclosures on the market to increase and more buyers unfamiliar with purchasing these types of homes may be wondering, “Does a foreclosed home need a home inspection?”
The short answer is yes. As home inspectors for Tampa Bay and most of Central Florida, we recommend a home inspection for all buyers before they finish the closing process to ensure they are aware of the condition of the home they are purchasing. There is nothing worse than buying a home only to find there are numerous repairs and issues that you absorb responsibility for as the new owner.
In many cases, foreclosed homes come with additional issues. When people stop making payments on their home, the routine maintenance often falls behind as well. Lack of routine maintenance can lead to major repair issues.
By investing a few hundred into an inspection, you can save thousands in unexpected potential repair costs.
Homes don’t pass or fail an inspection; a home inspection’s sole purpose is to provide the potential buyer with a complete picture of what they are buying. So, why not make sure you are purchasing a foreclosed home with the full picture in mind.