Foreclosure How To Buy

Columbus Investment Property Remodelling: Obtaining Permits

Obtaining a building or remodelling permit can cause untold headaches to the home investor because of the out of pocket cost. When purchasing columbus investment property, you can be assured that there will be a need for some kind of permit. Those who don’t have a permit will be subjected to fines and may be ordered to stop work.

Each permit is a different fee and there is no flat rate for building permits. The cost of the building permit is estimated based on 1% of the market value of the home. A home with an estimated final market value of $500,000 will have a building permit cost of $5,000. You need to be sure that you’ve met the requirements of your local government in order to obtain your building permits.

The proper documentation is key to getting the appropriate building permits. The documentation you have on hand might not be everything you need for the building permit. Making a quick trip to the county building department will save you an unnecessary headaches because they will let you know what you need to get your building permit. Frequently requested items may include: a copy of the house plans or plans of the before and after addition to your wholesale; an application for a building permit; the cash, check or credit card needed to pay for the permit; and a survey of your property.

A building permit does not cancel out the need for a building inspection to make sure the rehab is up to code. Having your permits with you at all times is a great way to be prepared for that visit from the building inspector. This is just a part of getting those cheap columbus investment property fixed up. Expect up to five different inspectors to come out to your remodel or rehab project including the; building, health, electrical, and plumbing inspectors not to mention the financial officer.

Mortgage companies require a meeting with the company’s financial officer to make sure everything is in order. He’s there to check up on the property in order to make sure you are using the released loan money for it’s intended purpose. Any change in plans from the original agreed upon plan can lead to problems. So save some nightmares and stick to the original plan.

Don’t delay- get started on the process early so you can get all the paperwork done fast. The heartache and hand cramps will be worth it in the end when you are in possession of property that will last for years. Those annoyances will seem petty once your columbus investment property is on the market and you’ve sold it above asking price.

Here is where you can find more information on how to sell your columbus investment property deals.

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