As the housing market continues to rebound, many investors are looking to purchase distressed real estate. These properties can be a great investment, but it is important to have them inspected before making a purchase. Home inspections are a common phenomenon in the mature real estate markets of the west. However, this concept is gradually finding its way into developing housing markets such as USA.
Home inspection involves seeking the services of specialised agencies or certified individuals, to carry out a thorough inspection of the property to find out any structural and mechanical issues with it. A home inspection would typically expose any significant deficiency, safety issues, dis-functionality and the approaching end of the service life of various parts using which it has been built. The home inspection process will also reveal any broken, defective or hazardous issues with the house and the area surrounding it.
When it comes to distressed real estate, there are a few key things you need to keep in mind during the inspection process. Here are a few tips to help you get the most out of your inspection which can help you to sell your home fast:
1. Make sure to bring along a contractor or someone who is familiar with home repairs. This will ensure that you catch any potential problems that could be expensive to fix.
2. Pay close attention to the condition of the home’s foundation. This is particularly important in older homes that may have settling issues.
3. Be sure to check for signs of water damage, both inside and outside the home. Water damage can cause serious problems down the road, so it’s important to catch it early.
4. Inspect the electrical system and all appliances to make sure they are in good working order. This is especially important in older homes that may not have been updated in many years.
5. Take a close look at the plumbing to ensure there are no leaks or other issues. Leaks can cause serious water damage and should be fixed as soon as possible.
6. Be sure to check for any signs of pests, both inside and outside the home. Pests can cause serious damage to a home and should be dealt with immediately.
7. Make sure all windows and doors are properly sealed and insulated. This will help keep energy costs down and prevent drafts from coming into the home.
8. Inspect the roof for any signs of damage or leaks. This is especially important in areas that receive a lot of snow and ice during the winter.
9. Check the condition of the gutters and make sure they are free of debris. Clogged gutters can cause water to back up and cause serious damage to the home.
10. Have a professional home inspector take a look at the property before you finalize any purchase agreement. This will give you peace of mind knowing that everything is in good working order before you move in.
Following these tips will help you get the most out of your distressed real estate inspection and ensure that you catch any potential problems before they become serious. If you have any concerns, be sure to consult with a professional before making any final decisions.
