Buying A Flipped House | Is it a bad idea to buy a flipped house in Hollywood FL

Buying A Flipped House | Is it a bad idea to buy a flipped house in Hollywood FL? What is a flipped home, is it just a renovated seemingly distressed property? Watching all these house flipping shows, really gives a wrong idea. What to know before buying a house flip- If you want to learn what you should do if you are buying a flipped house, you need to watch this video and we are starting right now.
What to know before buying a flipped house. So, you found this remodeled and move in ready home in Hollywood Lakes, it turns out it was a Flipped House. Sparkling new quartz countertops, polished hardwood floors, stainless steel kitchen appliances. Aren’t the buyers lucky? But when sellers are investors who are buying and flipping properties, a good buyer’s agent should help clients engage in some old-fashioned sleuthing. If you want to know what you should do if you are buying a flipped house, you need to watch this video and we are starting right now. Before we begin outlining the most important things you should know and do when buying a flipped house also referred to a house flip, if you are new to this channel, welcome! I am Kate Smith, a Hollywood Real Estate agent with Kate Smith Group, EXP Realty.
While not every flip represents a potential landmine, an experienced agent would be asking for information about who completed the work, as most problems arise with work done by DIY owner-flippers, who lack the skills of licensed contractors.Here are a few important steps to follow when buying a flip. Many of the caveats reflect the same type of thoroughness that should be undertaken with any home purchase.
1.See it yourself or, ask your agent to check it out in your place.
2. Learn the history of a home. It is important to check to home history, check previous sales.
3. Understand the flipping process. The flipper’s goal is to make a profit in a relatively short period therefore, many changes are cosmetic, such as refinishing hardwood floors and painting kitchen cabinets.
4. Hire a certified home inspector. A good inspector will follow up on possible trouble spots with requests for more information.
5. Bring in additional specialists. After reviewing the inspection report, if there are any areas of concern calling in a skilled expert such as a plumber or an electrician might be a good idea.
6. Check on what permits were pulled, inspected and approved.
Additional points:
- Check all the appliances and faucets.
- Look under the cabinets.
- Look under the kitchen sink, particularly at the garbage disposal.
- Examine the baseboards and paint.
- Walk over to the water heater. If it looks old, it probably is old. A new water heater can range in cost between $600 and more than $2,000.
- Check for permits where applicable. Before purchasing a flipped home, seek information from the city on any permits taken out, or pulled, during the seller's ownership. A lack of permits in a municipality that requires them should be a major red flag. Also, make sure permits were inspected and approved, not just pulled.
Interested in learning more about buying a home in Hollywood, or what it feels like to live in one of the beautiful Hollywood neighborhoods, its history, architecture, arts and culture, lifestyle, dining and entertainment, here are some videos to watch:
👉 Hollywood Lakes Hollywood Architecture 👉 https://youtu.be/-F_Y3dl4Al0
👉 Hollywood Lakes Hollywood, A Walk In The Neighborhood 👉 https://youtu.be/YpdYp4p1IDY
👉 Hollywood Beach and Hollywood Broadwalk 👉 https://youtu.be/PFjJL_MsWNM
👉 Moving To Hollywood FL 👉 https://youtu.be/qRTX19CI_S8
👉 Why Moving To Hollywood 👉 https://youtu.be/ybzC6yObARI
👉 Things I hate About Hollywood FL 👉 https://youtu.be/9R6VC8j-cb0
If you want to talk to about anything real estate related you call call/text 786-412-8510, or email: kate.smithfl@gmail.com Kate Smith, Hollywood FL
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