Should You Buy A Boise Idaho Flip?
Buying a Boise Idaho flip may sound enticing, but you need to be careful!
Home-flipping has been glamorized and over-simplified by numerous TV shows from HGTV and other networks over the past few years.
HGTV even created its “Boise Boys” show about flipping homes in Boise a couple of years ago!
Buying a “flip” may appeal to you, but it’s a good idea to look beyond the eye candy commonly seen in flipped homes.
There’s more to a quality home than quartz countertops, light gray paint, pendant light fixtures, faux barn wood floors, roller barn doors, subway tile backsplashes, and other current real estate trends.
Questions You Should Ask:
- Did the seller obtain all required building permits?
- Will the seller provide a copy of the building department’s final inspection approval?
- Was the home vacant for an extended period of time?
- Was the home winterized during the winter months?
- Was the sprinkler system blown out over the winter months?
- Was the remodeling work done by licensed contractors?
- Did the seller pay all of the suppliers and subcontractors? (think about mechanic liens)
- Will the seller provide paid receipts and lien releases from all of the suppliers and subcontractors?
- Which major components of the home (HVAC, plumbing, roof, windows, appliances, etc.) were replaced?
- Were those major components replaced with brand-new items or used items bought from Craigslist?
- Will the seller provide warranties for all of the major components that were replaced?
- Were major components replaced with the cheapest items available?
- Did the seller have all locks re-keyed to prevent subcontractors from accessing the home after closing?
- Will the seller allow you to have the home inspected by your own home inspector?
- Will the seller correct issues identified by your home inspector?
- Will the home qualify for title insurance to assure you of clear title?
- Is the home eligible for the type of financing you intend to use? (think about FHA/VA)
- Will you be able to arrange homeowner’s insurance? (check with your insurance agent before buying)
Before You Buy
Ask yourself “is this home a do-it-yourself, lipstick-on-a-pig renovation?”
Take your time and evaluate the quality of the renovation.
Look for obvious clues like:
- Uneven floors
- Brushed paint over old oak cabinetry
- Cheap materials
- Sloppy paint work
- Mismatched plumbing and/or light fixtures
- Mismatched door/window trim
- Mismatched windows.
- Mixed brands of appliances
- Mismatched carpet qualities/colors
- Mismatched door hardware/keys
Need some professional help figuring out that Boise Idaho flip you’re considering?
Give me a call at (208)919-7601 or e-mail me.
Don’t be surprised if I tell you to NOT buy that home and keep on looking!
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