MA Property Management: Tips on Buying a Flipped House
There are a lot of misconceptions about renovated homes because people assume that they are new and don’t have any flaws. That is the wrong idea as there can be issues with the place if you don’t look carefully. This is why you need to do your due diligence before buying a flipped home.
The problem with flipped homes is that one gets too excited when one sees all the fancy things inside. One ends up missing out on looking at the closer details. If you look at the items closely and see if there are any flaws, then you know that this is not the place for you. There can be simple defects which can make the place inhabitable for you. It could be anything from gaps in bathroom tiles to molding which doesn’t match or light switches which have not been done properly. Once you see a pattern you can tell that no much has been done about the property.
Sometimes people end up skipping the inspection because they assume that there are no flaws in the house. This can be the wrong step to take because it means you absolve them of any responsibility. It is always a good idea to go through the inspection as there may be problems which you have never noticed. It doesn’t matter if the city officials have signed off on it as there can always be problems which they don’t have to address. That is the job of the inspector to see if the house is worthy of living in.
MA Property Management: Don’t doubt your instincts
Another issue is when people don’t review the contracts properly or check to see if the permits are fine. This is why you must get all the copies of the documents there. You need to check and see if they are in order and that you don’t have to go online to get them. So if you are not being given the right answers when it comes to permits, then it is a bad sign. Don’t ever take over a flipped property as this means that you could be held responsible for it.
Check the reputation of the Flipper
It always helps to do a background check on the flipper so that you know if the reputation is good or not. The ones who have a good reputation will be more upfront and not shady like some who won’t provide you with any information. So make sure you do all the work you need to do to find out about the reputation of the Flipper.
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