How to Become an Inspector for Foreclosed Homes

With foreclosures skyrocketing and job losses following, the idea that you could make money from foreclosures is appealing. Many companies on the Internet and in the want ads promise a big paycheck for joining their foreclosed home inspection businesses, but you should proceed with caution. Many of the "jobs" are just information on how to get started in foreclosed home inspection. Here's what it really takes to capitalize on this industry.

Instructions

1. Get all the facts. Foreclosure inspection differs from regular home inspection in many important ways.
   • Certification. Home inspectors are required to be certified in most states. These professionals are highly trained in electrical systems, wiring, structural details and other areas that are important in the typical home inspection. Foreclosure inspection is a different business altogether. Foreclosure inspectors work for the bank and give the bank an idea of what needs to be done to sell the house.
   • Experience. Certified home inspectors are often general contractors or other construction professionals who are working to supplement their regular income or who have retired from their original career. In order to be a home inspector, you need a good deal of experience with the inner workings of a house so that you can provide a detailed report to a prospective homeowner. Foreclosure inspectors, on the other hand, just provide the basic information to the banks to let them know what, if any, work needs to be done in order to sell the home. They give a report of the overall condition of the home, based upon a simple visual inspection.

2. Beware of scams! Many companies popping up on the Internet claim to hire people with no experience as foreclosure inspectors. However, they charge a fee, either for their services or for a background check (which you can get yourself when you need it). A reputable company will not ask you to spend money to get a job, nor will they make outlandish promises. With the unemployment rate rising, many people fall prey to this kind of scheme, but do your research on any company that is promising more than a job.

3. Procure a background check. You will need to provide a clear background check to an employer or to prospective clients once you begin inspecting houses. You will, after all, have access to the properties and often to the belongings of people who have lost their homes.

4. Offer your services or apply for jobs. As mentioned, the number of foreclosure inspector jobs being advertised is much greater than the number actually available, so proceed with caution. Once you have a clear background check, you can offer your services to local banks. If your area has a lot of foreclosures, you may find it easy to get clients because banks do not generally keep full-time foreclosure inspectors on the payroll. Contact local banks and make them aware of your services.