Home Inspection Report
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What's in a HUD Property Condition Report?
We decided to look around at HUD foreclosed homes before inquiring at HUD about the Good Neighbour program and saw that they are sold without warranties. An agent has told us each listing comes with a Property Condition Report. Is that different from a Home Inspection Report and can we rely on it?
A property inspector,
* checks the roof for leaks(this involves going into the attic)
* checks the foundation for support issues(crawlspace entry)
* determines the septic and well guidelines(if they are applicable)
* energizes the electric with a generator to make sure it works
* if possible, check the a/c and furnace
* look for hazards,such as mold or asbestos
* make note of things like broken doors,windows,etc.
* note paint condition(if there is a lead based issue)
* note any trash in the property.
Then they send out an appraiser who sets value and notes anything else besides what the inspector found.This is how they come up with value. I am a HUD appraiser and I read the home inspection reports on every job. They are very thorough and between the 2 of us, we find most problems. I would try to get the Realtor handling the property to let you in.One look is worth a thousand words.
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