Home Inspection

3 Replies

I wanted to ask about the initial meeting of the wholesaler and seller and the offer I make on a house.  So, I do my marketing then a motivated seller calls me to see the house the following day.  

If it's a 3 bedroom and I conduct a house inspection, how do I know the value of the house or the price I should negotiate?  

My other question is, do I actually do the inspection?  I am thinking it's the certified inspector who would do an inspection.  I've heard of people putting a provision on a seller's document that it is subject to inspection.  Any help would be appreciated, I will be marketing this week.

Thank you.

Respectfully

George 

First, you need to understand how to analyze a deal.  To do this, you need to be able to ascertain a two key items:

1. Resale Value (ARV)

2.  Rehab Costs

With that information, you should be able to do a reasonable analysis of the deal.  See here for more information:

http://www.biggerpockets.com/renewsblog/2010/3/10/...

If you can't determine ARV and/or Rehab Costs, you'll need to find someone who can help you -- preferably a great real estate agent and/or a great contractor.

Jerald & J,

Thank you so much for expertise, it was very helpful and will help me save a lot of time.

v/r

George