Hartford, CT · Member since 2017 · 13 posts · 1 vote
Hi all,
I'm new here and slowly closing in on buying a property from a turnkey. I know I could do better doing everything by myself, but I just don't feel comfortable yet. I'm trying to take baby steps to build up to finding, rehabing, renting. I'm also trying to avoid analysis paralysis. With this turnkey, I've gotten more comfortable analyzing the cashflow numbers. A little reading on the forum made me realize I should get the property appraised to avoid getting bad equity on the deal. People mentioned getting an appraiser and inspector. I wasn't sure how to get an appraiser/inspector/agent for this area that I don't live in. Any help? Any extra advice outside of this either?
Co-Owner · New Berlin, WI · Member since 2017 · 224 posts · 71 votes
9y
@Account Closed you will be able to find an appraiser through Google. Keep in mind, appraisals in this area are about $400. If you plan on using conventional financing, the lender will require an appraisal. So, you would want to avoid getting 2. I would recommend connecting with a real estate agent first. The agent can then connect you with an inspector. The appraisal will come later when the lender orders it. This will be right after you sign and are under contract. Same goes for the inspector, you will only want to order 1. Lenders do not require an inspection however, any realtor will recommend it. I think it's a good idea to get one as it is more comprehensive than the appraisal.