Yes, and yes they are. They want to unload the large inventory, but don’t want to do anything to help a buyer out if it’s going to cost them any more money. So, buy at your own risk. I like the ones that sell your report after the first buyer walks, and then claim that they are obligated to disclose. True, but you don’t need to sell my report, just disclose the defects, not a photocopy of my darn report. Sorry, had to get that off my chest.
Nah , I disclaimed and noted what I did see.
In this case a outside utility room connected to a modular with a HWH that had Asbestos flue.
I was supposed to go back today to meet them and the Plumber,but I called the client and asked if they had the village turn on the water,as both sides of the meter were dis-connected in my photo. ooooPs
If it’s FHA it has to be habitable, the will not close, gas, water electricity has to be on. either the bank has to repair or your client should look at a new place,
I did one a month ago, it was an FHA auction, client was getting FHA loan, missing copper, FHA will have to repair to sell and guarantee the loan.
Do not look for a “work around”. Not your job and you are not a licensed plumber.
The water dept is VERY possesive of their jobs, in Chicago, and doesn’t want ANYONE messing with the buffalo box.
Banks and not in the property management business (at least they are not qualified to be so, and do not know what they are doing).
Many young (and un-informed) buyers believe that they can game the system and buy a house, really cheap, and fix it themselves. I (try) to warn them away. Some have come back, later, and tried to sue me for it, but I just explain that I warned them (verbally, at the time of the inspection, and in my report) that they were making a mistake. Seems like a bunch of college educated young folks believe "Hey, a high school grad plumber (or electrician or carpenter or latino illegal can do it! I have a college degree! How hard can it me.)
BTW: Most of their “college degrees” are in art history, english or history. :mrgreen:
I always advise to have the work done my licensed and insured contractors and NEVER try to get around the system.
Safer that way.
You gets what you pay for and a cheap job is ALWAYS more expensive than a professional job, in the long run.
Bob, The buyer has to pay to have the home winterized after the inspection.
The larger problem is the gas co will not turn gas back on if the meter is locked if the bill is not paid, property is still in legal limbo. more cash for the bank and the guy that does the winterizing.
Will, thanks for turning a simple question about what can be done ,into lecture on me somehow.
I simply am wondering what the answer is here,
You did not provide one .
I was looking for a real human answer and not something from the Lawyer forum.
Come on Will you can do better than that.
By work around ,I was not looking for some underground , underhanded ,crooked way of doing things, but that somehow made me feel dirty the way it was answered.
I am open ,above board and just looking for ways to help my clients any way I can.
Please let me add that another area Inspector called me today and was mad that they had to cancel his Inspection at the last minute because of lack of utility services,so since you are in the same line of work as the rest of us do you just ignore what is going on or do you have a recommendation you can share or(should I say willing).
As professionals, I think everyone is already aware of what you stated above.
Jeff what bothers me here, is that if a weatherization takes place , is not that same company holding that contract responsible to come out and turn it on when requested?
I feel as if this whole thing is a racket.
Just today I had a buyers Agent tell me how it is difficult to get a hold of Bank rep Agents to even look at a place.
Makes me go Hmmmm.
Are these Agents holding out for big tuna Investors, “in your opinion” or is this just corporate mentality and the Agents are getting a smaller commission that makes them lazy or non -caring to get a deal done.
(Thomas Jansson, CMI- IL Lic # 450003340)
I can’t help but think the banks are waiting for the big kahunas. Sell em off in lots, no inspection, no FHA, wholesale.
If they’re THINKING at all. The sheer waste… the loss and damage to vacant properties over the last 2 years is, in my opinion, one of the most under-reported stories of the decade.
The banks need to show a loss on their holdings to be backed by Uncle Sam. I spoke with a builder several weeks ago who said a banker told him that they don’t get $$$ from the government on properties that are not distressed. Hope and Change.
Banks, apparently, will get paid when they sell the property. If it was mortgaged for $200,000 and they sell it now to someone else for 80,000 our fine government will send the bank bailout for the other $120,000.
It doesn’t appear there is a downside for the banks.
Sorry no links, just a few conversations with some financial people I know.
Now that is interesting Larry. Might have to do some digging around on that one. It seems from what we have witnessed, to make sense though. If this were true, they would have no incentive to get things turned on and/or maintain a home. They are getting their cash no matter what, so poo on the buyer.
Now ,I am beginning to see cracks of light in this whole scene.
Hopefully more will join this discussion from the present perspective ,without this degenerating into a typical political spitting contest.