The economy isn’t in great shape…that’s no breaking news story. Times are tough for many people these days. Home-builders certainly haven’t been immune to the current state of the economy and many have suffered as a result. These days, it isn’t unusual to learn of a home-builder that has had to simply walk away from their projects…and some of those projects are not yet complete; the builder simply ran out of cash and left some other party holding a proverbial Bag of Goods. When a builder abandons an unfinished house, there is often a bank involved and the bank ends up owning the property. Then, the home is left to sit in that

Is That House Really Brand New?

incomplete condition for some time…often, for a very long period of time…while the bank tries to figure out what to do with the property. And this…interruption…in the construction cycle can be the cause of significant issues that could manifest themselves at a later time. These types of issues should be understood by any potential buyer.

Why would there be any resulting issues? The home looks fine, you say…the carpet is new, the appliances are shiny and new, and there is some nice landscaping installed. The home, from a cosmetic perspective, looks to be in terrific shape. So, how would you know if the home wasn’t completed in a timely manner? As the owner of a Raleigh Home Inspection firm, I sometimes make discoveries during a Home Inspection that are indicative of just such issues. Lately, we are being hired more and more routinely by banks that have come to posses these distressed or foreclosed properties. The banks have turned to us to give them some perspective regarding the condition of the house and about just what it will take to complete the construction and ready the home for marketing and eventual sale. Sometimes the bank contracts directly with a General Contractor to complete the construction. Other times, the property is sold, as it is, to another builder who then completes the construction.   keep reading, there’s more