Estimating repairs without access inside

[Arthur Fuller II]

I've had two people call me this week and for two entirely different reasons the owners could not give me access inside of the house. So if I'm going to make an offer should I just use a square foot estimate on repair cost and possible adjust during the due diligence period?

[Michael Garrison]

Im a wholesaler in NW Florida. I have to determine repair cost all the time to give an offer price that will make sense.

There's not much left to do but determine who my end buyer is going to be. Rehabber, landlord, retail, option buyer..... Then what the value of the area is. 

Taking all this into consideration I determine what the sqft price will be on the repairs. Anything from $15-20 is a safe bet. Maybe less if you know its going to a landlord and the outside is in GREAT shape. 

The outside should give you a little indication of what the inside looks like. This doesn't always work but usually.  Hoarders and drug labs are generally the exception here. 

You can count on flooring and paint in everything you look at. Check the A/C compressor and the install date on it. The roof will be a good indication of the inside too. 

Use your best judgement and adjust the price once you do get in. No big deal. Dont feel bad about a price reduction at all. 

If you couldn't get much on the initial phone call this may be the only way to even make an offer to see if they are game or not.