Inspecting Foreclosures - Part III - Mechanical Issues

Reblogger Paddy (Patricia) Pizappi
Services for Real Estate Pros with RJ Smith Realty Real Estate Solutions

 

With so many Foreclosures in and around Orange County, Sullivan County, and Ulster County NY it is important for buyers to proceed with caution.  Even if a property says "As Is" a good home inspection will allow you to decide whether the house is worth the risk.  Sometimes a lower price brings a higher cost in repairs later on.  This third post in the series of articles will provide people interested in Bank Owned Homes some idea of what surprises might be found in the mechanical systems of the house.  Thanks to Michael Thornton for his expertise:

 

Original content by Michael Thornton

In Part I of the series Inspecting Foreclosures, I talked about the importance of conducting the inspection and in Part II of Inspecting Foreclosures, I touched on the subject of lack of maintenance.

inspecting bank owned propertiesMechanical issues surrounding the heating and cooling systems, water heaters and kitchen appliances are a huge concern for many potential buyers. If the property is less than 12 years old, one can generally make the assumption that the major appliances will be about that same age. The home inspector will take a look at the serial numbers and guesstimate the age of the units based on the manufacturers data. Generally speaking, most kitchen appliances and HVAC systems are at or are approaching the end of their service lives when they reach 12 years. Professional servicing and budgeting for age related replacement is a must. Generally speaking, replacement of these systems will cost anywhere from $1500 - $2500 per ton of unit.

inspecting bank owned propertiesWater heaters have a very short 6-8 year life expectancy. Most manufacurers will have a warranty of 6 or 8 years on the glass lining. When the water heater has surpassed that time limit, the water heater is living on borrowed time. Another issue with water heaters I find is rust or bacteria build-up. 

When a water heater has been setting unused for some time, bacteria can build up in the pressure vessle giving that "rotten egg" odor when you open the hot water tap. Rust from the tank can leech into the storage area due to deterioration of the glass lining. If either of these issues are present, a new water heater is in order. Depending upon the manufacturer, size and type these can run from $600 to $1500 to replace.

© 2009 michael thornton | complete home inspections, inc. | brentwood, tn | 615.661.0297 | www.completehomeinspectionsonline.com

Helping YOU Live YOUR American Dream...

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the man to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Topic:
Home Buying
Location:
New York Orange County Montgomery
Groups:
Blogs Happen...
Club Chaos
Hudson Valley Real Estate and Mortgage Professionals
Square Pegs
"Whacked"!!!
Tags:
new york foreclosure homes
bank owned property ny
buying a foreclosure

Comments 2 New Comment

Show All Comments
Ambassador
1,452,408
Michael Thornton
Home Inspector - Nashville, TN area - 615.661.0297
Complete Home Inspections, Inc.

Paddy, Thanks for the re-blogs on my series. I see so many folks go into purchasing these with blinders on.  I'm just trying to raise the awareness...

Helping you live your American dream...

August 27, 2009 05:45 AM
Ambassador
326,314
Paddy (Patricia) Pizappi
Real Estate Associate Broker Hudson Valley NY
RJ Smith Realty Real Estate Solutions

Your are doing an awesome job with this series Michael.  I hope many consumers find these helpful.

August 27, 2009 05:51 AM
Show All Comments
Ambassador
326,314

Paddy (Patricia) Pizappi

Real Estate Associate Broker Hudson Valley NY
Ask me a question
*
*
*
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the woman to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Additional Information