I have a REO under contract from the bank. They already paid a contractor to bring the property up to code. I just had an inspection done on the property and the inspector came back and told us there is a very large pool of black water, which was caused by leaky 50 year old pipes in one of the bathrooms. This is a health hazard, because it is hazardous waste. I am also curious to see if anyone knows how to get the banks to pay for a termite inspection? Please Advise.
You should talk to Lending Hand on here. I read in the Asset Protection/Legal forum that he’s got the exact same issue.