Foreclosure purchase in NJ

1 Reply

Hey all!

I am a relatively new flipper in central NJ and am looking at foreclosure homes.

I love some of the foreclosure homes I am seeing, but what do you recommend to do in order to get a proper home inspection done?

It seems banks will not be willing to turn on utilities and it makes receiving a thorough home inspection a very difficult (if not impossible) feat.

Problem is I will be using hard money to finance the deal and if I do not account for an expense appropriately in the beginning, how will I ever be able to fix any issues that arise once the home is dewinterized/ utilities are turned on and be able to finish my rehab and sell the home...

What recommended actions should I take to receive a thorough home inspection on a foreclosed home that is winterized?

Thanks for your time!

If seller refuses to turn on the utilities not sure you could do much, but get estimates without it. Then upon your accepted offer, either ask for them to turn on utilities so you may do a proper due diligence or expense it on your own. 

Best of luck in all your endeavors.