Jessica,

I'm helping a buyer with a bank owned property as we speak. Of course, there is a long list of repairs that comes along with the purchase because the property is sold "as is". Work directly with the inspector or the city. Most of the repairs are items that you can complete or do it yourself type of repairs.

Buyers are given between 60 - 90 days to complete the repairs after the closing. Some cities require that you escrow your repair costs and some don't. After you complete your repairs, call the same inspector that did the initial inspection for a re-inspection. If you have done all the work and met all the code compliance, then the city will issue you a Certificate of Approval or a Certificate of Code Compliane. Happy home ownership!!!

Jesica:

I have some concerns. If you have not closed on this property yet - the repairs may be required by your lender. These items may have to be done in order to get your loan.

Home ownership can be expensive but it can also be fun learning how to take care of the items. If the city has cited something that they think should be repaired, you should take them seriously. Fixing these things may give you some joy too. When you get homeowners insurance they may also require you to fix these things in order to stay insured.

I wanted to share a contact that I have for a handyman. He can do (wiring, plumbing, carpentry, etc.) He prefers jobs that are 4 days or less in length. Also for awareness, he is a certified inspector, so you can kill two birds with one stone – get an inspection and an estimate of repairs at the same time - Craig Scofield 612-701-3968. You can also sign up on Angielist.com and access additional contractors that are in your area.

You should work with the city to fix some of these things and you should find out from the city if permits are required to do the work on your home. Get a permit if you are going to do the work yourself. Make sure any contractors work is also done with a permit if the city requires it. Be safe, not sorry!

Enjoy your home!

THANK YOU, that's all I needed to know. I will check into it more. 90 days is given to make repairs. I fear I will use up all my funds on important issues and something small like screens or doors will hurt this sale. Better take some home repair classes at the Home Depot.

Jesica, There are many reasons for what are called "Time-of-Sale" or "point-of-Sale" home inspections that various municipalities in the Twin Cities require.
Two of the main reasons are to correct code violations and from what you
are describing in in your case, inspection and city-ordered repairs to protect the quality of the city's housing stock and therefore, protect the city's home values (read: protect their tax base).
The municipality may require you to perform these repairs prior to closing, prior to occupancy or may require you to escrow money for any repairs that are not completed prior to your closing.
Good luck!
Steve

Usually you are accepting the property "as is" in a foreclosure; the city wants the home to meet all code standards which include being in a condition which precludes further deterioration. Permits are required in most municipalities to do plumbing, electrical and other repairs. If you do not wish to finish this, call the inspector as noted above, and get a timetable for removal and inspection for that; many of the things you noted would be easy to do it yourself. The bathroom, if not finished, would have to be left in a "rough in" condition or other condition as required by city code. Most inspectors I have known are reasonable and will give you some good advice regarding these matters. Liz Fuller, 612-986-4105

Jesica,

The best resource for this information is the city itself. There should be a contact number on your repair list. We recommend that you be in touch with someone from the city that can respond to your concerns with some accuracy.

Good luck