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Updated over 9 years ago on . Most recent reply

User Stats

19
Posts
1
Votes
Jeff Sanders
  • Investor
  • Oldsmar, FL
1
Votes |
19
Posts

Rehab turned new construction...need help

Jeff Sanders
  • Investor
  • Oldsmar, FL
Posted

Greetings,

I have a flip in Decatur, GA that was supposed to be a rehab but due to some city ordinance craziness and a long delay turned into a tear-down and new construction.  House is now done and beautiful and on the market but my agent is telling me that in order to sell I need to include:

1. a buyers walk-thru punch list repair at/near closing

2. warranty from me for the first year of ownership

3. a purchased "2-10" warranty for the house, which I'm told is about $5k

These are things I didn't know about and wasn't necessarily planning for since it was going to be a rehab.  Is this all true?  Would it make sense to "outsource" #2 above to a home warranty company to manage the first year?  Is $5k reasonable for the 2-10?  Any direction, advice or tips would be helpful.

Thanks

Jeff

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