Should I get an appraisal and inspection on cash offer

2 Replies

Do most experience house flippers get an appraisal and Home Inspection during due diligence? I am currently purchasing my second flip home and was just curious.
Originally posted by @Daniel Andrews :
Do most experience house flippers get an appraisal and Home Inspection during due diligence?

I am currently purchasing my second flip home and was just curious.

I don't think it would be at all crazy for a newer flipper to hand the general contractor bid to an appraiser experienced in ARV appraisals. Let's make sure your ARV estimate is backed by actual data according to a neutral 3rd party who is an expert at this. Typically these will be your appraisers that appraise for 203k deals. But I don't think this is the norm for experienced flippers, no.

As a lender I don't work on a lot of cash deals, so take this post with a grain of salt. :) I see these flips only once in a while, after the flipper does such a great job they decide they want to keep it as a rental & thus need to refi. 

Yes I'd always get an inspection no matter if it's cash or loan. Appraisal is more up to you, if you're confident in your offer, save the fee and skip the appraisal.