Investors sometimes need to decide whether to assign, double close, wholetail or flip a property they have not seen in person. That decision depends on good information. This checklist covers how to collect it remotely and which warning signs mean someone should visit before you commit.
Step 1: Check public records
- Ownership: confirm on the county appraisal district or assessor site that the person you are dealing with is the recorded owner, or has authority to sell (for example as executor of an estate).
- Property details: note the year built, size, lot size and any recorded improvements.
- Taxes: check whether property taxes are current. Unpaid taxes become a cost at closing.
- Liens and judgments: a title company will search formally, but a preliminary look at county clerk records can reveal problems early.
Step 2: Ask for a structured video walk-through
A general "show me around" video often misses important things. Send whoever is on site a short list:
- Roof from the ground or a ladder, plus any visible ceiling stains inside.
- Foundation: exterior walls at ground level, cracks in brick or drywall, doors that stick.
- Electrical panel with the cover on, plus labels.
- Water heater and HVAC units, including data plates showing age.
- Plumbing under sinks, and any signs of leaks or mould.
- Each room, slowly, with lights on.
- The street and immediate neighbours.
Step 3: Scope repairs in ranges, not single numbers
From the video, list repairs by category and give each a low and high estimate. If possible, ask a local contractor to review the video and comment. For anything structural, electrical or involving the roof, assume you need a professional opinion before relying on your estimate.
Step 4: Build a comparable sales picture
Look for recent sales of similar homes nearby, ideally in the same subdivision. Compare size, age, condition and features. Note how many comparables you found and how close they are. A thin set of comparables is a reason to be more conservative, whichever exit you choose.
Step 5: Match condition to exit strategy
With condition, repair range and value in hand, check which exits are realistic. Light cosmetic work may suit a wholetail. Heavy repairs usually suit an experienced rehab buyer. If the numbers only work under best-case assumptions, an assignment or walking away during the inspection period may be the safer route.
Red flags that justify an in-person visit
- The seller will not allow a video or limits which rooms are shown.
- Strong odours mentioned by whoever visits, which can mean mould, pets or sewer problems.
- Large cracks, sloping floors or doors that will not close.
- Signs of recent flooding or fresh paint over stains.
- Records that do not match the description, such as different square footage or additions without permits.
Keep your notes with the deal
Save the videos, your repair ranges and the comparable sales in the deal file. If you assign the contract, sharing this package with the buyer, together with the written equitable-interest disclosure required in Texas, helps them make their own decision. For the maths that follows, see our ARV guide and maximum allowable offer guide.