I'm in the process of buying a fixer-upper where previous squatters stripped everything out. The bank is asking for quotes from a plumber and an electrician to make the house livable so I can secure a mortgage. However, I don't have access to the house at this moment. Is it possible to get quotes based on just photos and some general info?
3 Answers
As a remodeling contractor, I’ve done quotes without having direct access to properties. I usually note that it’s just an estimate based on the information provided, and that costs could vary once I can actually inspect the site. As long as you’re upfront about potential changes, banks often accept this as long as it’s reasonable. They just want something official from a licensed contractor to move forward with financing.
Most of the time, those contractors need to see the house to give any solid estimates. If you're serious about getting accurate quotes, it’s a good idea to work with the seller to let a plumber and electrician check things out. Being there while they inspect is also smart. If quotes are based on photos only, they might be way off, leading to budget issues later.
You might try getting quotes based on photos and details, but I wouldn’t count on getting a specific estimate. Most professionals will probably just give you an hourly rate since they can't assess what needs to be done without seeing the place in person. It could be worthwhile to reach out to the seller and see if they’d allow someone to come in to take a look.
Absolutely! I’ve seen it many times where it can be cheaper to start fresh than to repair a stripped house. Just ensure that whoever is quoting understands the scope of the work they’re dealing with.