Property inspection is one of the phases of purchasing Erie foreclosures that cannot be ignored. Having found the foreclosure you are looking for, negotiated the price and contract and finally come to a conclusion on the deal, you need to have the house inspected. This will means that you will ideally get a professional to go look at the condition the house is in and then prepare a report. This will give you confidence that the house is in the condition expected. It is advisable to have a clause that gives you the right to cancel the offer if there is any problem with the property.
The inspection contingency clause gives you the right to get out of the deal. However, you can also have the price renegotiated downwards if you are still interested in buying the house. You will need to get a professional home inspector who knows the job well. He should be able to go all over the property and look for electrical, mechanical and structural flaws. The inspector should not have any vested interests and should also be registered with a trade association. One such association is the American Society of Home Inspectors.
You need to check out the experience and reputation of the company he works for. Additionally, avoid those who inspect houses on a part time basis, ex-tradesmen and those who are still studying to be inspectors. Make sure the inspector assigned you is certified by an organization that is recognized. Most inspectors will not check for radon, termites or asbestos. Additionally, they do not check on carpet stains, door knobs or any other thing that is not too serious. Moreover, things outside the house are not inspected such as garages, pools or outside wells.
When you commission an inspection of your Erie foreclosures the package will mainly include such things as the central cooling system as well as heating system, the plumbing, the roof, ceiling, floors and walls. He will also inspect the basement and the foundation of the house. All appliances that have been built into the house will also be checked out thoroughly. The firm hired must have adequate errors and omissions insurance which will provide coverage for the inspector and yourself against any legal problems later on about the inspection.
