Marketing Tip #1 - Buying an investor own property
Buying an Investor owned Property
Buying a home? Chances are you will encounter an investor owned property otherwise known as a
“flipped” home. Trendy, attractive renovations include new paint and flooring. Kitchen and bathroom
renovations are the biggest attraction. This also adds value in the appraisal process. However some
caution should be taken into consideration. As profits are the bottom line, some of functional features
of a home like plumbing, electrical, heating systems may be costly repairs and therefore untouched.
Flipped homes may have high carrying costs, so renovations are rushed. Lowest bid contractor usually
gets the order. This may lead to unskilled, underpaid and uninsured workers with little quality control or
management.
In addition, there may be no disclosure provided as the investor hasn’t lived in the property. This means
usually no history of damage, repairs, additions and/or renovations.
Under these circumstances, the home inspection becomes a crucial process. As a trusted source, a
certified home inspector provides an unbiased, objective evaluation of all the major components of a
home. This reassures the buyer of thoroughness and objectivity of the inspection process. A detailed
report is provided for further review and documentation.
Certification provided by the California Real Estate Inspection Association (CREIA) develops and fosters
ongoing education. CREIA has developed an accepted standard inspection agreement, Standards of
Practice and Code of Ethics. These all add assurance to the inspection process and confidence in the
real estate transaction.
Totally agree, have it checked to make sure it is what you were expecting. Call me today even if you are just after free confidential advice.
Duane Turner
Office: 09 811 8018
Mobile: 027 376 4806
duane.turner@abuyerschoice.com
www.waitakere.abuyerschoice.com
Waitakere & Surrounding Areas
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