When buying used or foreclosed homes, you can usually find lists of foreclosed or previously-owned homes at your county hall, at the courthouses, or online through many different real estate listing websites. While buying used, or either foreclosed homes has many benefits, there are definitely some risks involved.
Old homes can be just as problematic, or worse, as back-breaking, as new ones. In fact, because they have been tested by years of use and abuse, they can be filled with problems, especially if the builder used any shoddy, unethical house-building methods. It would be best to hire a qualified house inspector before you buy as a good hedge against very expensive surprises.
But then again, hiring a house inspector can be very costly -- from several hundred to a thousand dollars or more. However, if you ultimately end up buying the house, this is money well spent. On the other hand, if the house has serious drawbacks, you're better cut off saving the cost of the inspector and moving on to a better prospect.
In order to determine a house's overall quality before you decide to get the services of a house inspector, here are a few suggestions to keep in mind:
o Make a thorough check of the structure. From a considerably distant vantage point, take a good look at the house. Do the walls appear to be plumb and flat? Then go inside, and see, are any walls bowed or not square at corners? When you go to the middle of the living room floor, does it flex or feel solid?
o Inspect water control facility. Does the ground slope away from the base of the house? Will gutters, downspouts and drainage pipes carry excess water away from the house, or directly into the basement? Scout for any evidence of water damage.
o Take note of the finer details. Check on the quality of workmanship in the finish details such as moldings, tile work, hardware, wall panels and paint.
o Where's the roof?. Is the roof new and in good shape? Go up and see if looks neat and properly applied.
o Verify the quality of the electrical system. Are the number and locations of receptacles adequate to the needs of the house? Is the main circuit breaker marked at least "100 amps"?
o Inspect kitchen and bathroom fixtures. See if the sinks, toilets and tubs have quality fixtures. Find out if they do work properly. When you turn on the faucets and flush the toilet, check if the water pressure is adequate.
o Water heater and plumbing systems. Verify if the water heater is either gas or electric. Water supply pipes from the water heater to fixtures should be copper.
o Heating systems. Locate where the furnace or heater is and what type is it. Find out if any rooms are not heated. Is the house air-conditioned?
o Insulation concerns. Take a peek at the the attic and check for insulation; R-19 is a minimum in moderate climates; and up to R-38 (12 inches of fiberglass) is required in cold climates. Remove the receptacle cover on the perimeter wall to check for wall insulation.
o Fireplace quality. Find out if the fireplace has screens or glass doors, and dampers and log lighters. Is there a combustion vent that draws air from the outside and a spark arrestor at the top of the chimney?
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