who does the inspection on a wholesale deal?

who does the inspection on a wholesale deal?


My question is when I go out and find a property after talking to the seller such as a pre-foreclosure and figure out the equity in the house, and how much i believe its worth, how does the inspection process occur? If i'm locking up a deal on paper with a price that I agree with the seller, how do I know exactly what repairs are needed? do I (the wholesaler) hire an inspector? thanks for your help in advance.




The point in the foreclosure process may determine the type of inspection you can do. Sometimes after a foreclosure there are no utilities so if you do have an inspection it will be limited. If it is a pre-forclosure and they have the utilities you may want to get one completed or inform your buyer you have not had an inspection completed. If a savy investor is the buyer, he or she may look at the home and make a determination. Once you have an inspection completed on a home, you receive a copy of the inspection report so you know the basics they look for.

Some big ticket items to consider are the condition of the roof, furnace, central air, electrical service, etc. Some other issues to be concerned about is any water in a basement, attic or mold. The condition of the foundation, structure, etc. These items can be costly to treat. Thus, proceed with caution and determine the best course of action with the type and conditions of pre-foreclosures in your area. I have seen some homes in areas that needed a lot of work and other that needed very minor items. I hope this helps. Good luck. Believe and Achieve! Smiling - Joe


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I need help in determining costs & what to offer banks when house needs a complete overhaul or minor repairs (i.e windows). Apologize OP for taking your post off topic. @Indiana-Joe: How does the potential buyer go about getting the utilities turned on for the inspection or would it be worth it, go through all the trouble to turn on utilities back on if you're not really sure if you're going to whine up purchasing the property? If the water meter, electric meter and/or gas meter have been removed from property; how much would this typically cost the purchaser to have those services reinstalled if there aren't any issues (e.g. code violation or liens)?


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