Rehabber · Wilmington, NC · Member since 2009 · 23 posts · 10 votes
I'm curious how different people analyze and budget repairs to HVAC, electrical and plumbing systems in bank owned homes where the utilities are turned off? I went through a bank owned home recently and I noticed the thermostat was set all the way on 90 so that was a good tip off that the system needed repair. What are some other clues you all have found that indicate problems when the utilities are turned off?
Your contractor or someone knowledgeable should be able to get a good idea from a visual inspection. Unless the hvac looks great or you know it's newer, assume you need to replace it. Also check the ductwork if it's in a crawlspace.
Pop the electric panel cover and see if anyone's messed with anything. If not, the rest is probably ok. Also check the attic/basement/crawl for junction boxes or faulty wiring.
Plumbing is a little harder to diagnose without the water on, but it's also pretty obvious where there have been leaks in the past. Look over copper piping well as its prone to pinhole leaks. Water heaters are a crapshoot but not too expensive to replace.
Make your offer subject to satisfactory home inspection and termite report to the buyer to cover yourself, look at the serial # on the unit for the year that it's built 10 years or older budget to replace on initial inspection(should be 1st 2 numbers), electrical and plumbing checked on inspection, if serious problems arise revise your offer to a lower price! or back out if need be...