Video Summary
May a lender perform an interior inspection of the property if they have concerns about the property condition? The answer to that is no, they can not. Unless the loan is in default, the mortgages don’t allow them to do an interior inspection due to the condition. They only have a right to, they can do a drive by, there is an exception. However, in the residential mortgages, in the event, the property is vacant. They have a right to conserve the property and scene and whenever there’s a foreclosure and the property is vacant, they send contractors out that, hang a notice on the door, that where they’ve gone and secured the property and they’ll enter the interior of the house. There’s been certain abuses of that, when it’s in foreclosure, it’s a tough situation. If they have abused that privilege, if you’re occupying the home or occupying the property, then they’re not going to be able to enter the property while you’re there. So they don’t have a right to do the interior inspection on residential property. If it’s a commercial loan there, you might have look at the terms of the mortgage, but generally if the mortgage is current, they don’t have a right to come in and inspect the interior of the unit. So, if you have any questions about this, give me a call at (727) 847-2288.