Kildeer, IL · Member since 2014 · 19 posts · 2 votes
I have been searching around for a couple months in attempt to find my first rental property to buy, and have found a foreclosure that I think has a lot of potential. However, the listing says:
"Water and heating system will not be activated for inspections and appraisals"
I am sure that this question is posted somewhere in the forums, but I was not able to locate it and wanted to see if this was common, and/or if this should be a concern?
My initial thought process is that:
A. I would have to pay to have these turned on myself for inspection/appraisal, or
B. There is something wrong with one or the other, or both.
Any insight? I am new to investing and this would be a great learning experience to hear some answers. Thanks!
Investor · Boyd, TX · Member since 2014 · 688 posts · 467 votes
11y
I assume that I will need to replace the HVAC in that case and bid accordingly. In some cases you can pay to have the utilities turned on so you can check with the listing agent. This is one reason I like HUD homes because they have had at least a bit of inspection and they test the electrical with a generator. That could be an option for you, but I would check to make sure they would allow it.