Foreclosure house. Do you think someone poured concrete down the drains?

[NavySuit]

I was looking at a distance at some foreclosure homes. I noticed that someone cut the siding around the vent stacks. I also saw an inside picture of a bathroom and noticed the tub seemed to have been removed and put back. New cement board was installed behind the tub, but tile wasn't installed on top of it. Why would a plumber need access to the bottom of a vent stack? This is a slab foundation.

Normally, banks do not fix houses prior to selling them. It seems like they may have just had a plumber remove the concrete. Should I stay away from this type of house? Would a camera inspection guarantee that there will be no future issues?

 

[Widgit Maker]

Should I stay away from this type of house?

Yes, unless you are capable of doing this kind of repair or have some you can trust to do the repairs.

Would a camera inspection guarantee that there will be no future issues?

No, but it would tell you a lot more than you now know.


I recently looked into this same kind of thing. I decided to back away. I wouldn't buy any property I couldn't examine in detail.
When bank says "as is", they mean as is.
Banks don't seem to be in any hurry to sell. I think I finally figured out why. While the original buyer has defaulted and maybe settled with the bank, the bank is still collecting a high interest rate from the mortgage insurance company. When they sell that ends.

 

[Sponsor]

 

[Reach4]

Banks don't seem to be in any hurry to sell. I think I finally figured out why. While the original buyer has defaulted an maybe settled with the bank, the bank is still collecting a high interest rate from the mortgage insurance company. When they sell that ends.

That makes a lot of sense.