Asking a contractor to assess a property before submitting offer?

[Rudky Martin]

This is my first house purchase so I don’t have much experience. 
I just saw a house that needs a lot of repairs. However this house has a lot of potential due to its location. To know if it is worth buying it, I need to estimate how much I will have to pay to repair the house.
Is it common to pay a contractor to tour the house with me or to review the inspection report and provide me an accurate estimate of repair cost?

If so normally how much does it cost to hire him? If you know any good contractor in Bay Area, CA who is willing to do this service please recommend him to me?

Thanks a lot

[Abel Curiel]

Originally posted by @Rudky Martin:

This is my first house purchase so I don’t have much experience. 
I just saw a house that needs a lot of repairs. However this house has a lot of potential due to its location. To know if it is worth buying it, I need to estimate how much I will have to pay to repair the house.
Is it common to pay a contractor to tour the house with me or to review the inspection report and provide me an accurate estimate of repair cost?

If so normally how much does it cost to hire him? If you know any good contractor in Bay Area, CA who is willing to do this service please recommend him to me?

Thanks a lot

Hello Rudky,

Congratulations on taking the first major steps towards your first investment property!

I think it is a waste of time and money to hire a contractor for an inspection/rehab estimate without submitting an offer. You should only do this after an offer is accepted. Your offer should have an inspection contingency that will allow you to back out without financial penalty.

Once you have the offer accepted, you can hire a home inspector and contractor to check things out before you go into contract.

If you have an agent and/or inspector who can recommend a contractor, you may not have to pay anything to have them come by and give you an estimate.

Best of luck to you moving forward!

Abel