“I’m buying a short sale and was told I won’t have an answer from the bank for about 2 months. Do you recommend that I inspect the home now, knowing I’ll be out the money if the short sale isn’t approved?”
Answer:
Great question.
There are two schools of thought on this:
A) Don’t spend $300 or so on a home inspection until the short sale is approved, as you’ll be out the money if it’s denied.
B) Get the inspection now. Don’t wait (and waste) months for short sale approval, only to discover the house is a lemon and you dont want it anyway.
I lean toward B, perhaps unless it’s a relatively newer home in good shape, as it’s less likely to have any major issues. But still remember to get the inspection once the short sale is approved.
