So you found a great deal and really want to move quick. You have your financing, know your price and are going to make an offer on the home. What is missing? Do not forget to add in the items you want to make sure are checked as part of that agreement.
     Be sure, if you want to have a Radon inspection, that you put enough time in writing and a contigency associated with a successful test for Radon. Radon testing minimum takes 2 days to 3 days (48 to 72 hours) and ideally should at least run 72 hours for a quality short term test. This can be set up 3 days prior to a scheduled inspection or picked up 3 days after the inspection, but be sure you add enough time for this process in case the results are not good! Do remember though that Radon mitigation can be negotiated even if the result is high and at a fairly resonable cost (be sure to get estimates and guarantees from the companies).
     There is also a concern with foreclosures in general. Most of the foreclosure home inspections I conduct in the state of Minnesota are in fair condition. This means I find a few more concerns or issue with items missing or lack of maintenance than normal. However, some of the homes have been down right sabotaged. Items like cut plumbing, damaged cabinets, exposed live electrical wires (from missing fixtures) and missing retaining walls (YES someone actually removed a retaining wall). These are just a few concerns we have come across that the buyers were not aware of and had not noticed on the initial showing of the property before making offers. These items can lead to thousands in repairs, so when it comes to a foreclosure, most banks are selling "as is" and all repairs will fall on the buyer. However, some items can be negotiable with banks when it becomes a safety or health hazard. Be sure you hire a qualified and certified Minnesota home inspector to inspect your home. Make sure they use the latest availbale technology and allow you to follow along on all of the inspection you are paying for, not just the end. Call us @ 612-919-3844 if you have any questions.