House Inspections Thriving in the Foreclosure Market
House inspections have been thriving in the foreclosure market as buyers and investors of foreclosed homes make sure they are buying properties worth their prices.
According to house inspectors in Alabama, most of their clients are people buying foreclosed properties or newly-built houses that have been unoccupied for more than one year. They also said that they are detecting common problems such as mold, leaking roofs, moisture, poor air conditioning and heating systems, faulty water heaters and nonfunctioning attic fans.
Home inspector John Glover said that most houses his firm has inspected suffer from lack of maintenance. He said that a lot of homeowners do not spend money to maintain their homes.
In Baldwin and Mobile counties in Alabama, home inspection fees can start from $175 up to a high of $500. Good inspectors list the parts that must be fixed and potential problems that can be addressed in the near future.
Bill Hinton said that he has been advising sellers to fix several problems instead of making a big costly improvement. On the other hand, he has also been advising his buyers to check the more important things such as the foundation, the roof and the attic, and not the cosmetic stuff during house inspections.
Bob Grafe, owner of a Daphne house inspection firm that has been operating for 15 years, said that he has cut down his inspection prices to remain competitive. He added that despite the importance of inspection, some people have been forgoing inspections to save on costs.
Another inspector, James Porter Elder, said that even newly built homes need to be inspected, especially if these properties have been unoccupied for several months. He explained that with the air conditioning and heating systems turned off, mold damage could develop during summer or burst pipes could occur during winter.
According to Elder, who also owns a home inspection firm and who works with the American Society of Home Inspectors, house inspectors will soon participate in a nationwide program of introducing energy-saving systems and green-built houses to American consumers. Elder said that the U.S. Department of Energy will soon launch a program that would educate homeowners about energy efficiency and that would involve house inspectors.
Indeed, the business of house inspections thrives during the downturn especially for home inspectors who do their work efficiently and who make themselves updated with home inspection trends and industry developments.
