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Updated almost 13 years ago on . Most recent reply

User Stats

29
Posts
7
Votes
Oscar Martins
  • Rehabber
  • Syracuse, NY
7
Votes |
29
Posts

Starting construction while I wait to close on a property

Oscar Martins
  • Rehabber
  • Syracuse, NY
Posted

Hey,
What are some construction projects I can take on while I wait to close on a property? The property I am closing on needs new front porch rails which I have already started putting together in my workshop. Once I purchase the property I'll drill some holes and set them in place with cement. Anyway What are some other projects that we can get a head start on without actually setting foot in the house. Thanks.

Most Popular Reply

User Stats

476
Posts
305
Votes
Monica Breckenridge
  • Rental Property Investor
  • Colorado Springs, CO
305
Votes |
476
Posts
Monica Breckenridge
  • Rental Property Investor
  • Colorado Springs, CO
Replied

I would never start a construction before purchasing the property. Too much risk. Anything can happen between now and the closing. I've seen some crazy things happen and a closing can blow up as a result. If your closing blows up then you are out of pocket for all the money you put into the house. Here is an example of some issues that have come up in the past:
1. Seller files BK
2. The house floods right before closing
3. Pipes Freeze before closing
4. Seller doesn't cooperate and cancels the closing

I've had all this happen before closing as well as a laundry list of many more crazy stories.

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