They're as accurate as any inspection, which is to say its almost certain the inspector has missed something major and noted a bunch of minor, obvious items.Be sure you find out the process, when you have to give earnest money, and when, if ever, you can get it back.

There are usually some of those available which have already passed that redemption period and you can purchase outright within a month.Just be sure to ask the county/city building inspector about any citations that the property may have before you purchase so you are not suprised by any expenses needed to fix up that trashed home.

I've been to meetings with inspectors, had homes inspected, toured entire neighborhoods that are affected and spoken to State authorities as well as insurance authorities.

The inspector notes problems, then you haggle with the seller over the price.

I have a good relationship with the building inspector (I own a Residential Construction firm) and have already worked out a plan with him to correct this so all existing and future work will be inspected and up to code.

- Inspectors don't (can't) catch everything.

I added that the city code inspector told me he had problems with them, that there is at least one lawsuit against them.

If the original wasn't permitted but now you plan to permit, the inspector may require you to expose all the rough electrical, plumbing and HVAC in that room to verify safety and that there are no code violations.

If you're going to get the work you do permitted, you'll most likely be required by your local building inspectors to use licensed contractors to perform the work.

I don't know if this is universal, but I work as a home inspector for residential buyers.