do wholesalers get an inspection

Hi does anyone that wholesales here get an inspection report or just the title report when wholesaling?

I just get the title report

If you live in an area that has termites and you dont know how to identify them be sure to get that inspection or learn to inspect for them. I did not have inspections on any of the 30 some properties that I currently own. I did do termite inspections and in a couple of cases it saved me around $3000 above and beyond what it took to repair the damages.

If you are truly wholesaling the property, you shouldn’t need one. In wholesaling the property, you ideally wouldn’t have it long enough to care. You also would ideally be selling the properties “as-is” to the rehabber; the rehabber will be the one to do his own due diligence.

Now, it may be a good thing to get an inspection in case you have to hold-on to the property for longer than expected, or if you want to make sure you won’t have a problem selling it.

A picture perfect scenario would look like this:

  • Day 1 you get the house under contract

  • Day 2 you have a buyer

  • Sometime Between Day 2 and Day 15 you’re buyer does his own inspection

  • You’re buyer is ok with the inspection; thus letting you know that you don’t have a problem with selling it

  • Proceed with the transaction as normal…

thanks to all for input

Not sure which state you are in but I do my own inspections. I write everything down and offer my report to my buyers then they go off my report and do their own due diligence. The buyer is responsible for that anyhow, I just do the prelim as a part of my service to them. I am not a certified inspector but you don’t need to be when wholesaling. Hope that helps.

only if you’re going to end up as the buyer…

You may find that most investors that you wholesale to are either savvy enough to determine themselves what needs to be fixed, or they’ll have a contractor or inspector figure it out in short order.