wholesaling questions?

I was wondering how you get out of paying the appraisal and inspection fees when flipping properties? I would think a potential buyer/investor and the lender would want to know this information before closing the deal. surprised surprised

Comments(2)

  • pbodys30th April, 2003

    Why do you need to pay for these if you're just flipping the prop. If your buyer/investor is interested enough and depending on the prop. they'll pay for them. If it's a preety house you'll basically want to get comps. for the area which should give you an idea of what it'll appraise for or what it's worth. You can do a general inspection of the prop. yourself. It's either a preety hse in a nice area or it's a not so preety hse. or it's a piece of "Oh my" is this a house? For some, the uglier the better.
    I never pay for an inspection. Are you going to shell out $200.+ everytime you find a hse you're interested in? and then another $200. + for an appraisal? I don't think so. Learn how to do a preliminary inspection and how to get a general ideal of what it's worth as is and after repairs if any are needed.
    Clif. [ Edited by pbodys on Date 04/30/2003 ]

  • pbodys30th April, 2003

    Also you don't want to necessarilly close on a flip. to much closing costs (not appealing to your buyers). you simply want to have a contract on the hse and assign it. Then let you buyer/investor take over from there.
    Clif

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