[Wholesaling] How many inspections do you do?

3 Replies

Do you do a visual inspection first then estimate repairs then get the deal under contract and then do a professional inspection?

@Cameron Tope ok so lets say you make an offer after you do a visual inspection but you forgot about plumbing but you already sent an offer and got the deal under contract. What do you do?

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Originally posted by @Fili Aguirre:

@Cameron Tope ok so lets say you make an offer after you do a visual inspection but you forgot about plumbing but you already sent an offer and got the deal under contract. What do you do?

I go back to the seller and tell them I need a reduction equivalent to the cost of the plumbing. 

Note: some investors ask for reductions right before closing in a squeeze tactic. Don't be that investor. Let the seller know you generally have a concern and need a reduction, as soon as possible. You may lose the deal but it's better than being a phony.