Is it okay to buy a house that was flipped?
I have been in the real estate market for awhile and I’m wondering if I should steer away from houses that have been flipped? I’ve been extremely cautious, but I have looked at a few open houses that was flipped by a specific realitor. The houses they rebuilt look nice and most updates include electrical, plumbing, and roofing. It is a concern if these updates were updated correctly, but if I hire an independent inspector and the house passes, should it still be a concern if the house was done correctly or could i rest in peace?
Lastly, if a house has been flipped, is it by law (in ohio) the contractor must warrantied/guarantee the work?
thanks.
You should approach a “flipped” property the same way you would approach any other property. An inspection will be helpful. You might also check with the local municipality to ensure repairs were properly permitted. If you can contact another owner who purchased a repaired home from this seller and get a recommendation, that might also help. I do not believe that a contractor is required warranty repairs here in Ohio, but if you ask, they may offer a warranty anyway.
My 1 page contract and Your State’s Real Estate Laws – Wholesale – Flip Houses – The Flip Man
