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Updated over 1 year ago on . Most recent reply
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Help Estimate Rehab/Deal Analysis
Hi,
How do I give an estimate to a seller if I can't get a contractor out within a certain timeframe and I don't have the exact measurements for certain things?
Current issues:
- potential roof penetration
-plumbing do to leaks
-cabinets (there was a leak under the sink and 3 drawers aren't working, do I price for a new set of cabinets?)
-HVAC generating air but the refrigerate lines aren't insulated and the temperature took 45 mins to drop inside
- 2 dead outlets and 2 outside won't take a reset
-need a hot water tank and the floor leveled where the hot water tank is (utility closet)
- two new decks due to mold spread
I plan to make a few calls this morning to contractors but trying to determine what other steps I could be taking to give to seller. They are willing to credit, but I'm thinking about the things I may discover during rehab after the deal is closed on.
Thanks.
Most Popular Reply
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Do you have the property under contract? Is the property contingent on inspection?
If that is the case, I would recommend extending the inspection contingency period to allow for ample time to get quotes from the contractors. These are not minor issues, and I would not "guesstimate" these rehab costs. This could be the difference in making or breaking your deal in the long run.