Four Point Inspection

[ameneses54]

Dear Subscribers,
I'm a recent "flipper" and ran into the 4 point dilemma when I sold my last investment home. As expected (I learned that late) it did not pass the inspection the prospective buyer had done for insurance and I had to settle for $4000 discount on the price.
My question is regarding the minimum conditions a home should have in order to pass the 4 point inspection and obtaining insurance.

Thanks
Arturo

 

[joshb]

Arturo, every company has different guidelines in regards to the 4-pt's. Specifically most companies want each "point" in the 4-pt to have a life expectancy at a minimum of 3 years. Some are more strict than that and say 5 years. Some of them don't mention a life expectancy, but say that everything needs to have been updated within the last X amount of years.