Results 1 to 8 of 8
  1. #1
    Tony Escamilla's Avatar
    Tony Escamilla Guest

    Default Bank Owned Housing Inspections

    Has anyone ever thought of offering housing inspections to banks for their foreclosed, vacant properties? I know some cities require banks to submit inspection reports to them.

    Before you go off on a "we don't do code inspections" rant, I'm an ICC certified housing inspector and work as a code enforcement/housing inspector. I've also owned a home inspection company for 12 years, predating my work as a code inspector.

    Inspections can be done to ICC Housing Code standards, or in my case California Housing Code (same thing), not necessarily local codes.

    I think it can be a great source of added income. Tell me what you think?

    Tony Escamilla
    Villa Home Inspections
    Villa Home Inspections - College Certified Home Inspector & General Contractor

    Similar Threads:
    Inspection Referral SOC

  2. #2
    Join Date
    Feb 2008
    Chicago IL

    Default Re: Bank Owned Housing Inspections

    I do more REO's than I can count. So doing those types of inspections is not an issue for me. I prefer them over regular HI. Rarely does anyone want to meet me at a building. I do the inspection and email out the report.
    I started kicking your idea around at least 5 years ago and have been trying to 'work it' ever since. I have done a few REO inspections for Banks, however not many.
    Maybe you can say I suck at marketing and it is all my fault that I have not been able to get lots of Bank business, possible. I've talked with numerous Bank executives and managers at various levels of the food chain. Answers and excuses have always been polite, non-committal and sometimes honest.
    The most honest answers have come from Bank attorneys I've talked with. Their interpretation is that Banks don't want to know what condition the POS they own is in. Having an actual inspection report could open them up to various liabilities they don't want to take on. Especially since they are trying to dump the properties (often times on people who don't know any better)
    You can try going after that market. Hopefully you will be successful but I have my doubts. Obviously, not based on your abilities, no insult intended.
    "The Code is not a ceiling to reach but a floor to work up from"

  3. #3
    Tony Escamilla's Avatar
    Tony Escamilla Guest

    Default Re: Bank Owned Housing Inspections


    Thanks for the response. I have a list of "property preservation" contacts if you're interested. These are companies hired by the banks to maintain the properties and assign them to realtors. I also have a list of bank contacts who are in charge of managing these foreclosures.

    That's going to be my target market. Email me if you're interested. I'm hoping it generates a little extra income. You never know...


  4. #4
    Join Date
    Dec 2007
    Holladay, UT

    Default Re: Bank Owned Housing Inspections

    Tony, How do you get the lists of preservation contacts and bank contacts?

    Tom Rees / A Closer Look Home Inspection / Salt Lake City, Utah

  5. #5
    Join Date
    Mar 2007
    Santa Fe, NM

    Default Re: Bank Owned Housing Inspections

    The company holding the mortgage in most cases doesn't care about a home inspection. They will only do what they have to to make it habitable such as repairing broken plumbing or heating. I had one recently that had plumbing problems. They didn't want to fix the plumbing until I did an inspection. They knew it was very likely the home inspection would find more problems and the buyers would walk away. They don't want to put any money into these properties unless they have to.

    BTW: The place needed all new electric and a new roof. the buyers walked.

    They sell houses as is. (They have on goal...the beans must be counted)

    If they really cared about the condition of the home they would be working with the homeowner to keep them in the home.

    In some areas there are 25% of the homes for sale that are "distressed" short sales or foreclosures. That is a lot of property and a lot of $$$$.

    They will pay companies to winterize and de-winterize because they don't want broken pipes that will cost them even more.

    Good Luck marketing that one!!!

    Charles @ PreVue Property Inspections, Santa Fe, NM
    "How can someone with glasses so thick be so stupid?"

  6. #6
    Ron Bibler's Avatar
    Ron Bibler Guest

    Default Re: Bank Owned Housing Inspections

    I do about 10 Inspection a month just for Banks only. they what to known what the condition of the property is in.

    Go find out who the REO Agents are in your area they can get you on the banks list.



  7. #7
    Tom Johnson's Avatar
    Tom Johnson Guest

    Default Re: Bank Owned Housing Inspections

    Not having posted much before. Been lurking trying to learn what I can. My ex was doing the reo thing for a while. I would go with here and the banks here would not spend a penny other than a trash out and having to get the yard mowed. I saw a 9 month old house 2500ft ruined by a leaking skylight. Pools you could fish in. I am new and looking to make this HI work for me. Maybe the banks are looking at it different now. This was a couple of years ago.

  8. #8

    Default Re: Bank Owned Housing Inspections

    In my experience, most don't want to know. Here in Cali, the seller must disclose any defects they KNOW ABOUT, hence, they don't want to know. They can claim ignorance and I would suggest, hope that the defects or some of them, DON"T get found.

    True Professionals, Inc. Property Consultant


Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts