“I want to buy a short sale. Should I inspect now or when the short sale is approved?”
Answer:
Great question. Here are the two perspectives:
1. Save TIME / Inspect NOW
It could be months before you know if the short sale is approved. Inspect now and find out what defects the home has so you can decide if you want to hang in there or move on to a home in better condition. Sure it costs you $300-$400, but you may save months of waiting only to discover you don’t want the home.
2. Save MONEY / Inspect LATER when the short sale is approved
Don’t invest the $300-$400, because if the short sale is denied, your money would be wasted.
Unless you’re tight on funds, I recommend option #1. Exception: the short sale is near approval and you’d only have to wait a short time before hearing if it’s approved.