Whether you’re looking for a turnkey rental property or BRRRR deal, when’s the best time to ask this question and who can answer it?
This is a particularly important question since many investors waive home inspections. Even with a home inspection, obvious potential issues can but caught but not everything since it’s just a visual inspection. That’s why it’s an important question to ask before you write an offer for the following reasons:
> To see if the seller cut corners
> To verify the seller’s disclosures are accurate
> To explore how well any updates made by the seller will hold up over time
> To check if you will be able to remodel in the future without any extra headaches
> To verify the value of the updates
> To assist in negotiations for the property
How do you look up permits?
The best place to start is by taking a look at the city’s website where the property is located (see below example).
If there is not a way to look it up online in that particular city, there is often a phone number or email address for someone at the city that can tell you about the history. If that isn’t available, consider making a stop over at city hall, or wherever the building official’s office is located. Keep in mind that every city may have a different process and each property is unique.