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Obtaining a building or remodelling permit can cause untold headaches to the home investor because of the out of pocket cost. Permits are a necessary evil when buying columbus investment property due to the fact that most homes need some sort of remodelling or repair. 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.

Permits come in different rates and fees without any flat rates for building permits. The price for the building permit is based on 1% of the market value. If the final market value of the home is $200,000, you can expect to pay $2,000 for the building permit. Each city and county will also have different protocols regarding applications, paperwork and proof of ownership required to approve permits for building projects.

Be aware that before you can obtain a building permit you will need to show the proper documentation. Unfortunately, no matter how prepared you think you are, you might not have everything you need. However, the county building department can help you with your application by letting you know what kinds of information you’ll need for that application. 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.

Even with a building permit, you can expect a visit from the inspector to check over the property for code violations. 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 the beginning of what it takes to get your columbus investment property ready for the market. Your property will require a visit from inspectors that specialize in different areas: health, plumbing, and electrical are a few.

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. 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.

For more info on columbus investment property deals in your area, look here.