TIPS IN PURCHASING A FIXER UPPER

By
Real Estate Agent with Solid Source Realty

TIPS IN PURCHASING A FIXER UPPER

www.stonemountaingeorgiahomes.com

A homebuyer who does not want to be influenced by the real estate market’s temperature usually wants a fixer upper. This type of property costs less than any other around it. Yet, always remember that the purchase of a fixer upper can either be a success or a failure.

To make your purchase a good one, you should choose the right property and learn how to evaluate any repairs done to it already. You should also get a credible inspector or a group of reliable inspectors to help you spot the areas that need more improvement. Below are some tips in making your fixer upper purchase a successful one:

1. Consider the location. It is best to look for fixer upper properties in areas still undergoing development. This is so that you could see how well it is maintained or if it is still occupied by the owner.

2. Be on top of the inspections.

  • Pest inspection. If the area you chose has issues with ants, beetles, or termites, you should hire a pest inspector immediately. You should base your bid on the inspector’s evaluation and the repairs the seller paid for.

  • Sewer inspection. Old properties have old sewer lines and septic tank. Have them checked out by licensed and experienced sewer inspectors. It is always better to have a functional septic system before you decide to bid.

  • Roof inspection and certification. It is best to get a roof certification from the seller to determine the condition and the age of the property’s roof.

2. Consider reports from a previous engineer. This professional can tell you about the geology of the property and the natural dangers in and on it. The engineer could also give you more information about risky resale dangers, nearby landfills, and contamination reports.

3. Look at the layout. See if the flow of the property’s layout fits your needs. A bad layout usually requires expensive renovation.

A dream house can come in any form. Finding the right fixer upper may be challenging, but it can surely make the effort worthwhile.

Posted by

Cliff J , Real Estate Agent in Stone Mountain Georgia, Certified First Time Home Buyer

www.stonemountaingeorgiahomes.com  

(678)495-6050

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Rainmaker
3,982,564
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Very good points. There is a lot more to flipping than just buy and fix

Nov 23, 2018 05:04 PM #1
Rainmaker
2,779,483
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Cliff Johnson very valuable tips for purchasing a fixer upper.

Nov 23, 2018 06:00 PM #2
Rainer
520,377
Sham Reddy CRS
H E R Realty, Dayton, OH - Dayton, OH
CRS

Real Estate Investors are usually very careful.  But any miscalculation on their part might end up in  a disaster and might end up costing more money!!!

Nov 23, 2018 06:48 PM #3
Rainmaker
1,928,487
Ronald DiLalla
Century 21 Discovery DRE 01813824 - Anaheim, CA
No. Orange Cty Real Estate

Hi Cliff, great tips for all those considering to purchase a fixer-upper and thanks for sharing with us in AR Land.

Nov 23, 2018 10:13 PM #4
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Cliff Johnson

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