Retrofitting older foreclosed homes for profit

February 12, 2018 by · Comments Off on Retrofitting older foreclosed homes for profit 

The recent real estate bust is a boom for the innovative home remodeling contractors. A group dubbed as “eco flippers” are buying foreclosed older homes and retrofitting them with more efficient heating and cooling systems; replace with energy-efficient thermostats; improve attic insulation; install greener appliances; install new energy efficient windows, doors and skylights; plant water conserving native plants in yards and sell remodeled homes for a quick profit.

The cost of remodeling an older home varies from state to state and region to region. In Houston, Texas the cost to remodel an older home cost between $75,000 and $120,000. Due to the energy saving improvements, remodeled homes are selling much faster than other older homes available for sale in the market.

When a glut of foreclosed homes are available in the market, it seems very difficult to sell a remodeled foreclosed home. However, the Earth Advantage Institute, and the National Association of Home Builders Research Center are overseeing the verification process and issue certificates making it much more easier to sell.

The selling point for remodeled home is its energy saving aspect. An older home that is half the size of a remodeled home could cost twice the amount for gas and electricity alone.

Property assessment consulting services

February 8, 2018 by · Comments Off on Property assessment consulting services 

Most people will not understand the legalities involved in buying or selling a property and will often be disappointed after a purchase is made, due to additional costs or because the property does not meet the buyer’s/ seller’s initial expectations. The main reason for these unpleasant surprises is because critical information does not come to light before the property is purchased or sold.

Therefore getting the assistance of real estate lawyer can help the buyer receive an unbiased assessment of the value of the property and the estimated financial costs associated with the project the buyer wants to create. Law firms specializing in real estate law will also have a circle of professional service provides that include planners, realtors, architects, engineers, and attorneys, that will offer accurate information and timelines. The report real estate law firms offer can provide the buyer/seller with practical information that can aid the buyer/seller to make a sound investment or decision.

Most law firms handling real estate will need the buyer to visit them to discuss their needs and to assess the desired scope of the project. Often services will be charged on an hourly basis, and reduced rates can be addressed for long-term plans. Discussions will include the financial limitations, property assessment, analysis of the condition of the building, additional options, cost of remodeling, risk analysis, residential potential, resale value, energy audits and long-term maintenance and budgeting to name a few.

Article by Lyle Charles. Lyle Charles is a construction claims consultant who can cater to your construction project needs.