Tips for Buying a Flipped House
People often believe that purchasing a flipped property is just like buying a brand new or fully-renovated home, and that the house is in tip-top shape and move-in ready. Most homebuyers aren’t aware, however, that a number of house flippers or contractors want to sell as quickly as possible in order to move on to their next flip project. Things may look good on the surface, but a rushed job will most likely result in not-so-perfect workmanship throughout the home. If you’re thinking about buying a flipped house, consider the tips below so you won’t be dealing with any unexpected problems after you close.
1. Look Beyond the Fancy Finishes
Take a closer look beyond the attractive visual façade of a home. As much as you’d like to focus on the beautiful granite countertops or pristine hardwood floors, it’s much more important for you to question if these key elements are correctly installed to code. You don’t want anything cracking, chipping or peeling within a year due to a poorly installed subfloor. Chances are, if the contractor did a sloppy job on the smaller details of the home (i.e. flooring, tiling, etc.) they likely did a poor job on the more important elements, such as plumbing and electrical.
2. Do Your Own Background Check on the Flipper
A solid reputation, as well as testimonials from past clients, speak volumes. Ask your real estate agent if they’re familiar with the contractor’s work. Experienced flippers have typically been in the business for a while, they care about their clients and therefore do quality work. They certainly don’t want to deal with a buyer’s attorney later on regarding a poor job they did or be faced with liability issues.
3. Do Your Homework
It’s worthwhile to do research before buying a flipped house and to make sure you evaluate all the disclosures. For example, were all the necessary permits pulled and signed correctly for the work on the home? Ask for all of the copies and if you need to, search for them in public records. Ensuring that all the permits were appropriately cleared removes you, the new homeowner, from liability and being responsible for illegal or subpar work.
4. Schedule a Professional Home Inspection
In order to be sure that the contractor did not just do the bare minimum or cut corners to save money or meet a deadline, you should get a home inspection. An expert home inspector will be very detailed and thorough when checking the work of the contractor or flipper. They’ll know if the renovations are up to code and if items are properly installed. A home inspection is a vital part of the home-buying process that can save you money and help you avoid any issues in the long run.
If you’re interested in buying a flipped house in the Sarasota area or have questions about the process, give the Key Solutions Real Estate Group a call at #var-phone-number# or send us a message!