What to do AFTER your offer has been accepted?

[Brian Garrett]

This is a very basic question. I have never purchased a home before so I am not sure of the standard procedures or proper protocols. On a flip property for example, once you have an offer accepted do you then coordinate with a contractor or inspector to come walk the property? I'm not sure what the process is. Do you have an inspector come out and make a list of any and all issues? What do they charge for this? Do you then have a contractor come afterwards to give you a bid on the rehab costs? Do you have them both come at the same time? Do you just have a contractor come and not an inspector? I'm a bit confused on this aspect of the deal. Can someone please give me a simple run down of the standard process? Thank you in advance for helping clarify! 

[Rolanda Eldridge]

@Brian Garrett..When I started, I paid for 2 home inspections (fear) and as a beginner that might be the way to go.  Your comfort level increases with each deal.  I do my own visual inspection.  The contractor gives est on cosmetic repairs.(paint,roof,wood repair, floors, etc)  HVAC, Electrical, Plumbing, I pull in after the fact.(I estimate because of my experience)....Depending on the property, the contractor may only do certain portions of job...last project..tile guy, painter, granite counter, carpet..all different...My way, but so many ways to do it.  I also started out with under $50,000 so enough room to make mistakes...GL