vacant foreclosed home - need opinion on purchase (moved from Dallas, TX forum) (arrears, estoppel)
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
As they say...wait a few days in Texas & our weather will change! You are right..an inspector can not turn on the HVAC when weather is below 60. Give an inspector a call to discuss. An inspector can detect water movement and suggest an additional evaluation. Homes vacant have not breathed and once you begin to live and use the bathrooms-a leak can develop since the PVC was dry for so long. I bought a home that was vacant about 8 months... yes ...a Darling Home. A few weeks after being here we had water at the base of a toilet & I called my home warranty. There was a small line leak that developed afterwards. Luckily only at the connection, the plumber had to drill 3 inches to repair. He said the connection once wet again swelled & leaked. Home Warranty-Old Republic did repair the 1,000. bill. Been here 6 years & no problems since. This was not a foreclosure..but vacant!
In terms of ac / heat, how does one check for ac on a winter day (or heat in a summer day)? Also, some leaks / malfunctions may be small and the hour or two an inspector spends in the house may not uncover the leak / problem. Thoughts (I am uneducated in this area)?
They do it. On a nice summer day when they run the heat and the ovens to make sure they kick on and stay it gets pretty warm. They will set it REALLY high or low in order to get it down to that temp and let it stay for a little bit.
All builder's warranties are void as soon as the foreclosure takes place... even if the house was built last week!!! Every builder has that written in fine print on their warranty.
If the bank is selling it, you will not inherit the liens on it. You will be getting a title policy issued, you or the bank will pay for it (negotiable), it would protect you on future claims on any liens.
Most inspectors are not licensed in any particular field, they get a basic training on what to look for. Since this is a foreclosure, I recommend that you hire a professional in every field to check it out:
A plumber will check the pipes, leaks etc.
HVAC will check the heater and AC plus they usually have some kind of warranty with this
A professional roofer that will walk up in the attic check for leaks.
Electrician to check for all electrical items.
All this should cost about $500... slightly over a home inspection.
On more thing, even if the bank doesn't pay for this, get a home warranty!!!! make sure that you get the coverage that includes "pre-existing conditions" this is for a year. Any time major appliances AC stops, the warranty will send in their repairman, you pay $55 deductible and they fix it or replace it.
Great for peace of mind ;-) runs about $420 a year depending on the size of the house.
All builder's warranties are void as soon as the foreclosure takes place... even if the house was built last week!!! Every builder has that written in fine print on their warranty.
If the bank is selling it, you will not inherit the liens on it. You will be getting a title policy issued, you or the bank will pay for it (negotiable), it would protect you on future claims on any liens.
Most inspectors are not licensed in any particular field, they get a basic training on what to look for. Since this is a foreclosure, I recommend that you hire a professional in every field to check it out:
A plumber will check the pipes, leaks etc.
HVAC will check the heater and AC plus they usually have some kind of warranty with this
A professional roofer that will walk up in the attic check for leaks.
Electrician to check for all electrical items.
All this should cost about $500... slightly over a home inspection.
On more thing, even if the bank doesn't pay for this, get a home warranty!!!! make sure that you get the coverage that includes "pre-existing conditions" this is for a year. Any time major appliances AC stops, the warranty will send in their repairman, you pay $55 deductible and they fix it or replace it.
Great for peace of mind ;-) runs about $420 a year depending on the size of the house.
Naima
Noted.
By the way, do the likes of American Home Shield (or others) offer home warranties with preexisting conditions? I heard AHS is extremely strict.
In terms of ac / heat, how does one check for ac on a winter day (or heat in a summer day)? Also, some leaks / malfunctions may be small and the hour or two an inspector spends in the house may not uncover the leak / problem. Thoughts (I am uneducated in this area)?
Your home inspector will test HVAC. They crank the heat on, then they crank the AC on, letting each run for a few minutes, then they have a laser temp device, shine it on the cold air return and then the different supply vents to make sure there is 20+ (or whatever it is) degree difference, ensuring it is working properly. Furthermore, they should check each vent to ensure there aren't any that are disconnected or under supplied.
Hope this helps to understand one aspect of the home inspection.
They do it. On a nice summer day when they run the heat and the ovens to make sure they kick on and stay it gets pretty warm. They will set it REALLY high or low in order to get it down to that temp and let it stay for a little bit.
They can run the heat on a warm day, but they will NOT run the AC on a cold day. It can damage the compressor unit. No inspector who knows what he is doing will turn on the AC when it's under a certain temp. I believe 65 degrees or so is the usual minimum temp. ANd if your inspector simply says ok and trys to turn on the AC when it's colder than that, have him immediately pack up his stuff & get out, as he clearly doesn't know what he's doing.
Noted.
By the way, do the likes of American Home Shield (or others) offer home warranties with preexisting conditions? I heard AHS is extremely strict.
Well, they want to make sure that they aren't paying for a repair of a problem that was there already. As with any insurance policy. A fair concern, I think.
They do expect you to be honest & report anything that is already a problem. But they don't send out an inspector when you buy the policy.
They can run the heat on a warm day, but they will NOT run the AC on a cold day. It can damage the compressor unit. No inspector who knows what he is doing will turn on the AC when it's under a certain temp. I believe 65 degrees or so is the usual minimum temp. ANd if your inspector simply says ok and trys to turn on the AC when it's colder than that, have him immediately pack up his stuff & get out, as he clearly doesn't know what he's doing.
Thanks. This means that during days like today (< 65 F), the a/c unit simply cannot be tested?
Thanks. This means that during days like today (< 65 F), the a/c unit simply cannot be tested?
Correct. What I often do is ask the buyers attorney to request a small escrow account be opened with money sufficient to repair or replace any faulty AC. The buyer then has the responsibility of having the unit tested within a few days of the weather being at an agreed upon temp for a few days in a row. If the unit passes, or the buyer simply fails to report that it doesn't pass, the seller gets his escrow money back. If the unit fails, that moeny can be used for the rapair, with any leftover going back to the seller.
Another option is to simply purchase the warranty, such as AHS, at the time of closing. Read the fine print, make sure it's covered. You should be all set.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
