Most homeowners dislike paying for permits because the cost is out of pocket before they see a return on their investment. Minor and major repairs and rehab in columbus investment property will require permits. Building, repairing or remodelling without the appropriate permits will cost you money in fines, and you might be ordered to cease working on your project.
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. You will need to have your permits with you at all times in order to appease the inspector when he makes he surprise visit. This is just the beginning of what it takes to get your columbus investment property ready for the market. Depending on the work you are having done on the property, you can expect a visit from several different property inspectors.
Not only that, but you can expect a visit from a financial officer if you are doing business with a mortgage company. The financial officer is there to make sure that the lender's money is being used appropriately. If there are any changes in the plans from what you presented to the lender, there will be some explaining to do. 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. Paperwork and inspections are a labor of love once the property is finished and on the market. The time investment on your columbus investment property will see many returns when you get tons of great offers. - 29969
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. You will need to have your permits with you at all times in order to appease the inspector when he makes he surprise visit. This is just the beginning of what it takes to get your columbus investment property ready for the market. Depending on the work you are having done on the property, you can expect a visit from several different property inspectors.
Not only that, but you can expect a visit from a financial officer if you are doing business with a mortgage company. The financial officer is there to make sure that the lender's money is being used appropriately. If there are any changes in the plans from what you presented to the lender, there will be some explaining to do. 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. Paperwork and inspections are a labor of love once the property is finished and on the market. The time investment on your columbus investment property will see many returns when you get tons of great offers. - 29969
