Prohibited from walking on property/ inspecting. 100 % RISK

[Account Closed]

Hello and thank you in advance for your response.

On one of the online foreclosure sites that i am looking at states in their disclaimer that '' Buyer shall have no physical access to Property to conduct inspections, and Buyer assumes such risk and takes same into account in determining purchase price'' .  The transaction is going to be a substantial amount via cash only. How do you investor feel safe knowing that there isn't a sink hole developing, or some other major catastrophic event has already occurred on the building or land.  All I can do is to drive and have a look from the outside. What are my alternatives to an inspection ? Is there a good way of approaching the foreclosed homeowner, to get some facts about the property for my peace of mind.

[Josh Caldwell]

I would talk to the neighbors. Neighbors usually have a feel for the property condition.  You might get lucky and find one who has been in the property recently. 

Personally, I would be very reluctant to get into this deal blind.   There are too many variables. Unless the price is a super bargain, I would walk away.  There are too many houses out there to take this risk

To your success

Josh