Getting Your Fix and Flip Ready For An Inspection
Rehabbing homes is one way of making big profits in real estate investing. However, seasoned real estate investors know that the fix and flip strategy requires a great deal of work. For instance, it’s imperative for investors to take careful measures that will help their properties pass the home inspection. If the property doesn’t pass inspection, the closing will not take place. It doesn’t take a rocket scientist to figure out that it will be in your best interest to taking a proactive approach. This will help you avoid losing the deal. We will now take a close look at 11 simple steps that will improve the chances of your property getting the nod from the home inspector.
1. Remove Clutter from the Home
This is probably the easiest step towards passing a home inspection. There’s an old saying, “The first impression is the best impression.” Visible clutter can give the inspector the wrong impression of the home. Clutter can make it difficult for the inspector to view certain areas. For example, you should make sure that the inspector has easy access to the electric panels.
2. Hire a Landscaping Company to Mow the Lawn
The landscaping is the first thing that the inspector will take into consideration. It’s imperative that you hire a professional landscaping company to mow the lawn, trim the hedges, and blow the debris from the property.
The landscaping company will also trim any branches that may be hanging over the property. It may sound repetitive, but leaving a good impression on the inspector will work in your favor.
3. Make Sure You Are on Time
There’s a possibility that the home inspector will arrive before the scheduled appointment. You should make plans to be at the property at least one hour before the appointment. Showing up late is not professional, and you could miss your appointment. To avoid this, you should make an earnest effort to be on time.
4. Check the Light Bulbs
It may sound simple, but this tip pays big dividends. Please keep in mind that inspectors are required to report everything. If a light bulb does not come on, you may be facing a serious problem. For instance, it could be a wiring issue.
You can sidestep this problem by simply making sure that all the lights in the house are working properly.
5. Make Sure the Appliances are Empty
The inspector will not hesitate to check the appliances. This includes the washer, dryer, and stove. It would be considerate of you to make sure that the appliances are empty. This will make the inspector’s job easier.
It’s also important to mention that you should leave the utilities connected. It will be impossible for the home inspector to test receptacles for grounding if the utilities are disconnected. If there is no power in the home, the inspector will reschedule your property for another inspection. This will push back the closing date, which is not ideal if you’re trying to move quickly.
6. Provide Access to the Garage and Attic
The inspector needs to get into garage and attic, so it’s vital that you give them a clear path. We cannot stress how important it is for you to make things easy for the inspector. Having a ladder on hand will make it easier for the inspector to get into the attic.
You should also check the attic and garage for rodent droppings. Home inspectors are notorious for being critical of rodent droppings. In their mind, rodent droppings may point to a serious pest issue.
7. Be Upfront About Minor Flaws
This may sound strange, but you should discuss minor flaws with the property inspector. Taking this approach may seem like you would be going against the grain, but the property inspector will appreciate your honesty. Simply tell the inspector that you plan on having these flaws addressed before the closing date.
8. Unlock the Doors
It would be wise for you to unlock every door before the inspector shows up. This includes the garage door and gates.
9. Don’t Ignore the Pilot Lights
Some home inspectors will not light the pilot lights because their insurance does not cover them for that type of liability or risk. This is why you must keep the pilot lights ignited.
Important items such as your furnace, gas stove, and water heater will not be inspected if your pilot lights are not lit. Please keep in mind that the closing will be delayed until these items are inspected.
10. Be Ready to Show Repair Documents
Does the property have a new roof? Did you install a new furnace? You should be ready to show this in writing. The inspector needs to know that you hired a licensed professional to take care of remodeling and repairing projects around the property. Repair documentation will also give the buyer a peace of mind.
11. Do a Dry Run with a Seasoned Contractor
Some contractors are licensed home inspectors. You can take advantage of this by hiring a contractor that will give you a dry run for a reasonable price. A dry run is where the contractor will inspect the property thoroughly. The contractor will point out the things that need to be repaired or corrected.
Being prepared is the key to passing a home inspection. Doing a dry run with a seasoned contractor will help you save precious time and money.
Contact Orchard Funding Today
Some real estate investors fail to realize that home inspections play a vital role in getting to the closing table. Getting your properties ready for inspection is vital for success in the fix and flip real estate investing niche. If you follow the 11 simple steps listed above, there’s no reason why you cannot get past this phase of flipping properties.
You need a reliable lender in your corner for your fix and flip deals. Orchard Funding offers rehab funding on properties that meet their flexible criteria. Call Orchard Funding at (310) 356-7373 today!