Senin, 29 Desember 2008

About the Real Estate Flipping

Mon Dec 29th, 2008, by sunshine01
Many people like buying the turn-key homes, because everything of the houses is new, sparkly and fresh, including the appliances. If the price is in line with the comparable sales in the neighborhood, it doesn't matter, really, how much the investor originally paid for the home. Here are the specific information from internet.

Hire Your Own Agent.

Hire a buyer's broker to negotiate for you. Sellers generally pay your agent's fee. A buyer's broker will look out for your interests and represent you, not the seller.

Get a Home Inspection.

Ask the home inspector to thoroughly investigate the plumbing, heating, electrical and mechanical apparatus in the home, including structural. Take along a home inspection checklist to verify nothing was overlooked.

Hire Experts Recommended by the Home Inspector.

If the inspector suggests you obtain other reports such as a roof inspection, sewer inspection, HVAC report, chimney inspection, structural engineering report or pest inspection, follow the home inspector's advice.

Carefully Inspect for Quality of Workmanship.

Look for signs that the flipper cut corners or tried to save money by using inferior products or materials. Note any defects you find and ask for repairs in the purchase contract.

Check with the County for Permits.

Not pulling a permit for work requiring a permit is common and not necessarily a deal killer. However, there is no guarantee that the work was performed according to code if the flipper didn't obtain a permit.

Get a Home Warranty.

With a home warranty plan, buyers are covered for one year in the event a system failure, electrical malfunctions or plumbing leaks. Home warranty companies charge a service call fee, but the repairs are free.

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