Rehab Inspections?
Can anyone provide some advise on inspecting potential rehab properties and estimating costs. Many that I come across are REO's and are vacant with no utilities turned on except maybe water. Any advise on how to accurately perform an initial inspection before making an offer, especially where utilities are not turned on. The good ones are gone before a professional inspector can get in to take a look at the place.
Any info is appreciated.
Hi Jar,
I have developed a Visual Inspection Report for such. It is a small variation (about 7 pages) of the the report I use when I conduct Home Inspection. For legal reasons, I stress for people not to attempt to use my forms as an inspection or safety report, it is intended for the sole purpose in helping REI's to quickly evaluate property and while giving them a record of what they inspected.
To contact me....See my Profile.
I can email you a sample for your review.
Again, I do suggest that when possible that REI's seek professional services of
inspectors, contractors etc. when necessary. The small fee that they charge is small in comparison to what you may pay because you failed to properly evaluate a REI property.
In regards to how to accurately inspect a piece property,......it takes time and requires developing a standard method / routine. My average visual inspection (not to be confused with detailed inspection- 2 hrs plus) takes about a 1/2 hour....but then again I know what to look for.....
Good Luck
[ Edited by NC_Yank on Date 08/07/2003 ]