If everything is to his satisfaction, he will "close out" the permit, essentially indicating that the local building authority is satisfied with the completed job.Normally, permits are needed for any foundation/structural work, electrical/plumbing/HVAC work, and in many jurisdictions you need permits for other things as well -- decks, roofs, siding, etc.

The decision to move forward, coupled with a commitment to learn all you can is a foundation for success.

By the time you're ready to start buying you should have a good foundation under you from all you're going to learn on BP!

Not wise for me to spend 11K on something I don't have a solid foundation on in the first place.

It sounds like you're building a good foundation for your future.

Zig's quote is foundational principle of my real estate investing, but I'm thinking of upgrading now.What do you think?

I believe the house was on piers and set on the foundation while the hosue was built, prefabed exterior walls, assembled almost like a mobile home that is finished in less than a day.

This was lowered on 2/16/13.The bank appears to not to be very aggressive in their pricing to sell the property over the 5 months of it being on the market.The property is in bad shape, but the major cost items of the house (roof, foundation, furnace and ect) are all in GREAT SHAPE, however the inside has been torn up badly, and about 50% of the windows have been knocked out, which have been boarded up by the property management company.So, I put in an offer on the property around 1 PM on Monday, March 11th, for $12,000, 55% of the asking price, because I only have $13,000 in cash and I wanted this to be an all cash offer.The question is, did I low ball the offer too low?

This does not take long. if any problems come up with title, that is on the seller, not me so i do not need days for due diligence on that. if they cant deliver clear title free of liens and encumbrances, no matter if I have 0 days or 10 days inspection period, I am free to back out if they can not clear the liens.As a buyer, your only concern is the condition of the property (contractor bids, termite, home inspection, foundation, electrical, HVAC, and plumbing inspections.

Hey Robert Fabian looks like you have a terrific background and great foundation for real estate.