Updated about 9 years ago on . Most recent reply
Inspection for Distressed Properties
I want to make offers on distressed properties and am figuring out what I can tell the seller in terms of the time frame. I want to offer a quick close and cash, but I am wondering how to fit an inspection in the time frame if I am going for a week or 10 days to close. If I am attempting to purchase properties at 30% below retail less repair costs would I have enough cushion to forego a formal inspection? The South Denver/Centennial area is where I would like to focus and there doesn't seem to be too many problems with real estate in this area e.g. termites, soil movement etc. Would I be relatively safe looking for issues on my own such as leaky roofs (stained ceilings), foundation cracks, drywall cracks, and poorly executed remodeling? Or should I make a judgement call on scheduling an inspection after my own inspection? Is a week or 10 days a realistic goal to close? Incidentally, I also have a real estate license.
Brent