Did you just purchase your first investment property at auction? You may be alarmed to see some issues. At many foreclosure auctions you bid on the homes without being able to view the inside. However, if your real estate agent confirmed to you that the home was a good investment area, you know that the home will bring in dollars when all of the work has been done. You may be looking at plumbing issues, remodeling and pests. Pests are not uncommon in foreclosed properties. However, they will require your attention before any other work is done. The first thing you will do is get a termite inspection in Chula Vista. The inspector will determine if you have termites and what damage you are looking at. Further, he will fix the problem.
The reason that a termite inspection is a must is simple. Termites can cause structural damage. After the inspection has been completed and the termites are gone, you will know exactly what must be replaced. By moving fast, you will avoid further damage to the property. Thus, the renovations and other work can move forward. Next, you will have your real estate agent list the investment property.
When home buyers tour your investment property, they may find that they love what you have done to the property. However, do not miss this. Many of them will only close on an offer after their home inspector checks the home. If you did not take care of the termite problem, you should be prepared to lose the contract entirely. In some cases, the buyer may ask for a substantial deduction off the value of the property or for you to fix the problem prior to moving forward. All of those headaches need to be avoided, and they can be. Simply, have the work done by the experts and move forward with your offers.
Properties that are in the right location, have the best work done and are free of pests get the best offers. Do not undercut yourself by not checking for pests. Further, do not try to fix the problem yourself. Hire the professionals have it done right.
