How to Examine Home's Condition Before Negotiating: Tips for Investors

Whether you're looking to purchase a primary residence or flip a house for profit, it's important to understand the condition of the home before you begin negotiations. It could mean the difference between a great investment and an expensive mistake. As an investor, here are a few tips that will help you confidently assess the current state of any potential property:

1. Investigate Local Building Codes and Inspections - Before making an offer on a home, find out about local building codes and whether inspections are mandatory. This will give you valuable insight into any expected renovations or repairs that may be necessary for the home to pass inspection.

2. Get Professional Help - Consider enlisting professionals' help to better understand what's needed. They could include a licensed inspector, building contractor, plumber, or electrician. These experts can assess the condition of the home and provide valuable input on any potential issues that need to be addressed.

3. Get Your Hands Dirty - Many of us aren't familiar with home repairs and maintenance, but don't be afraid to get your hands dirty! Take some time to explore the premises yourself — look in attics, examine wiring under sinks, and inspect for signs of water damage in the basement or crawlspace. This will give you a better understanding of what needs to be done before you make an offer.

Negotiating is an important part of real estate investing, but it pays off to do your research beforehand. Examine the home's condition and get professional help if needed to ensure your investment is smart. Good luck!

Hello! I'm Jay Thomas, a REALTOR in Houston, Texas. Chances are you and I share a similar passion, Real Estate! I also have a passion for building businesses, working out, inspiring others, technology, sports, and people. Connect with me on Facebook and Instagram!