Chic vs. Geek: House Flipping

We found a flipped home at a great price. What should we know before deciding to buy?

CHIC (PEARL)

A home that looks shiny and new can capture a buyer’s gaze, and in this competitive market, offers can easily become impulse decisions. That’s why it’s important to slow down and do your diligence! Request a list of recent renovations from the seller and check the permits. Find out who did the work and check their references. Read the seller’s inspection report closely and ask questions when you have them. Check the title report for any liens. And if you need more, have a look here and here.

GEEK (KEVIN)

When it comes to renovated properties, the level of experience, professionalism, craftsmanship, and attention to detail can vary greatly. When I’m in a home being sold by a flipper, I pay close attention to the details, like the edging on a paint job around the baseboards. It’s not hard to notice when a seller has cut corners to put “lipstick on a pig.” Just don’t get distracted by the color of the lipstick. Like Pearl says, ask a lot of questions and make sure you don’t end up in a money pit.