If it’s a good idea for prospective buyers to hire an inspector before purchasing a home, then it should be an utmost priority before purchasing a bank-owned foreclosure. Foreclosures are notorious for their problems, from long-deferred maintenance to intentional looting and vandalism. Inspectors have even found wild animals in vacant foreclosures. Unfortunately, some Realtors have been recommending that inspections not be performed on foreclosures because most of these properties are owned by banks, who will not reduce prices to compensate for exposed defects. Fearing the inspection will be a deal-breaker, many Realtors will advise against an inspection, or simply “forget” to mention one, putting the future owners in great jeopardy. To find out more about this situation, check out our new article on foreclosure inspections.