Updated over 10 years ago on . Most recent reply
Winterized REO inspection
Hi,
My offer on a REO duplex just got accepted. I have 10 days to inspect and decide if i want to proceed. The house is currently winterized and the contract states that i am responsible for re-winterizing if I de-winterize it to inspect. Both kitchens and bathrooms will need to be totally remodeled. There may be additional water connections in the basement. Any advice on whether I should de-winterize and inspect? How much would it typically cost to de-winterize and re-winterize?
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#3 Real Estate Deal Analysis & Advice Contributor
- Rental Property Investor
- Mercer Island, WA
Around here typically $250 to dewinterize and re-winterize. If you're already planning a big rehab I wouldn't bother. Just assume you'll have some issues. It its copper the difficult part is finding leaks. Fixing them isn't too big a deal, nor is patching drywall. If its galvanized pipe and its been empty, plan on replumbing the entire place. Galvanized doesn't handle being drained well. The insides of the pipe rust and you'll have ongoing issues with nasty looking water.