FAQ
Do I need to hire an inspector before I purchase a flip?
Reality check
Yes! If this is your first flip or rehab project, you should definitely consider hiring an Inspector to identify potential Code Issues and repairs for your property.
Here are my Top Reasons Why You Should Hire an Inspector!:
Reason #1: Identify Building Code, Structural, & Life Safety Issues
If you don't know anything about building codes it's a good idea to hire an inspector who can provide a list of items that don't meet current building standards that may need to be repaired/upgraded.
Your inspector will look for structural integrity issues, life safety issues/fire hazards and inspect your MEP Systems to make sure Electrical panel, wiring, piping, hot water heater & HVAC systems are acceptable/good working condition.
Reason # 2: Inspect Hard to Reach Places (Roof, Crawl Space, Attics)
If you are afraid of heights and don't want to get on the roof, crawl around in a dirty creepy crawl space or climb around in a haunted attic, an inspector can inspect these areas.
Your inspector can tell you if your roof needs to be replaced, get in the crawl space and inspect the foundation/piers for damage or water issues. They will also get in the attic & look for water damage, electrical junctions not in a box or even find dead animals that need to be removed.
Reality check
Let your Inspector do the dirty work for you. Do you really want to crawl around in a filthy, wet, dark crawl space with creepy critters?
Reason #3: Finds Expensive Repairs Before You Buy the Property
Your inspector will help you identify major issues & expensive repairs on your property such as the structural, roofing, HVAC, electrical, etc. All of these items are very expensive items that could potentially cost you thousands of dollars in repairs.
Reality check
An inspector can help you identify expensive repairs and issues upfront so you can re-ngeogiate your purchase price or walk away from a bad deal.
Reason #4: Helps You Create a Scope of Work
Now, an inspector will not tell you what rooms need to be renovated or what finishes to use on your rehab, but they can at least provide a list of building code concerns and recommended repairs to the property that affect life safety or the structural integrity of the home.
Review the Inspector's recommend list of repairs and selectively add the items that you want your Contractor to perform to your Scope of Work document.
Reason #5: Minimizes Buyers Inspection Repairs
Your home buyer will be getting an inspection when you sell the property. If you didn't get your own inspection and make the inspection repairs during the rehab, the buyer's inspector could find a hefty list of inspection repairs that need to be fixed and repaired.
If you don't have these repairs in your original Scope of Work this could result in an expensive Change Order from your Contractor. Or even worse the Inspection Report could scare of your potential buyer and you will have to find a new buyer.
Reality check
It's best to make the necessary repairs upfront while your Contractor is onsite. The last thing you want is to open up walls, tear out ceilings or re-do a bunch of work because an Inspector found issues on the property.
Fix it right the first time, otherwise it could result in expensive Change Orders and could potentially scare off your buyers!
Reason #6: It's Relatively Cheap
A Home Inspection only costs around $350 to $500. When you consider the potential savings from finding expensive repairs upfront and minimizing expensive Change Orders, an inspection is a good investment.
friendly advice
Don't be afraid to walkthrough the property with the Inspector and ask them questions about Code Issues.
When you get the Final Inspection Report, thoroughly review and study the list of Inspection Items so you can understand code issues to look for on future properties.
Again, don't be afraid to ask follow up questions on the identifiy inpsection items. You can learn a bunch of valuable information by just asking questions which will make you a better inspector when you are evaluating potential flips in the future.
Fix it right the first time, otherwise it could result in expensive Change Orders and could potentially scare off your buyers!
