Buying a rehab property midway under construction
Hi,
I made an offer on a property where the owner has decided to sell it in the middle of turning it from a duplex to a single family. As part of due diligence I found a few active permits for the work being done: Electrical permit to rewire new 200AMP service w/switches, outlets and lights; and Alteration permit for major alteration to interior (knocking down walls to make single family home?)
These permits are active status. I believe the city hasn't inspected this work. In fact the listing agent told me that the permits were actually stolen from the property. My question is what should I anticipate if I buy this property when these permits expire without inspections being completed? Or if the work is completed is it possible to schedule inspections based on the previous owners permits?
Something tells me I'm missing something simple here and probably overthinking this. Just want to know how it generally works when you go to rehab a property picking up where someone else left off. Thanks!