You see it daily in your life now, the ratio of homes in foreclosure distress to regular home sales. This can be “lopsided” depending on where you’re looking and what part of the country you’re living in. It can be a very scary time or a dream come true depending of what side your looking from. At Pinnacle Property Inspection Services, Inc. we are seeing a definite rise in HUD, REO or foreclosed home inspections in Schaumburg, Illinois and other villages and cities in the Chicagoland area.
I remember when I thought “not in my area, we don’t have that issue here.” Boy was I wrong!
I service many prestigious villages and cities with the same concerns as the more modest villages. The issues we are faced to address are generally due to complete laziness from the owners of the foreclosures. No one wants to spend any more money than they have to and that includes the mortgage companies of the foreclosed homes. Luckily, my inspection company employs licensed professionals who can assist the realtor’s who definitely need people helping their client’s get a chance at home ownership.
Recently at a home inspection in Schaumburg, the water was not turned on. Luckily, I have a Chicago plumbing license (pl#194988). I turned on the water with written permission from the mortgager of the foreclosure. Potential home buyers and realtors really appreciate this added service we can give our clients. The other issue I found at the home inspection in Schaumburg was the gas service was shut down. This adds extra return visits to properties to inspect furnaces and water heaters. People could say its the realtor’s fault?? I think not! I’ve dealt with deals that the realtor’s had to secure the utilities with their own credit cards to get them turned on for an inspection. These realtor’s can make some good money, but in no way are they the reason the market is in the condition it is.
The last issue I found in the home inspection in Schaumburg was the electrical service. Waiting for the electrical provider to install a meter or to turn on the electric becomes unnerving.
I feel there are some real good opportunities for home ownership as long as you have a little patience. If you are in the Chicagoland area and need help with a foreclosure please contact us at~~ www.pinnaclepropertyinspection.com