If you are looking to purchase a short sale or a bank owned property, ensure the plumbing is inspected. Colorado Springs experienced a few cold months this past winter and if a home is improperly winterized or not winterized at all, there may be water leaks in the home.
Bank owned properties are usually winterized and if a buyer is interested in having the plumbing inspected, de-winterization and re-winterization is usually the expense of the buyer. Some inspectors will perform an air pressure test if the property is winterized to find out if there are any leaks but this type of test is often inconclusive. Plumbers can de-winterize and re-winterize homes.
Unfortunately, many short sale properties that have been vacated by the seller are not winterized which increases the risk of pipes freezing during the cold winter months.
If a leak is found in a bank owned property, the bank may not be willing to pay for the plumbing repairs since these properties are normally sold as-is and sellers who are short selling their home may not have the finances to make the repairs either.
A plumbing leak is not necessarily the end of the world and is something that can usually be repaired. If the home requires multiple plumbing repairs that are in hard to reach spots, it can become costly. The buyer will then have to make the decision to move forward or walk away. It is wise to have a short sale or bank owned property thoroughly inspected in case there are any hidden issues with the home.
There have been occurrences where homes in Colorado Springs have not been properly winterized or damage was done to the home prior to it being winterized, therefore, don’t automatically trust that there are no plumbing leaks if a home has been winterized.
Patricia Beck – Selling Colorado Springs Homes