Inspection process for wholesaler

[Juliette B.]

As a wholesaler, is inspecting the property something one has to do? I've seen information saying you can get a sense if it needs minor repairs or major repairs over the phone to calculate the ARV without seeing the property. Since I am not intending to buy this property at this time, I won't be the buyer. If I am not buying this one, does that then mean that once the purchase and sale agreement happens, the potential buyer is the one who does the inspection during the stated period? Trying to understand my role as far as inspections as wholesaler, and what to expect regarding inspection after the agreement. Thanks!

[John K.]

@Juliette B.

I think it would be a great idea to hire a contractor to help you walk through them. It would be a very inexpensive way to gain valuable knowledge on assessing repairs and their costs.

Another tip for you. Visit your local Home Depot/Lowes and ask their costs to do various repairs. Then deduct a conservative 30% and you will start to get an idea of your local market for those items.