Offer Contingent Upon An Inside Inspection.
Hi
We found a fixer upper we liked and the realtor said to make an offer contingent upon an inside inspection. Why would a realtor want an offer before we look at the whole house? Seems like it gives the investor an advantage because they would expect a low-ball offer.
Thanks
Mike
[ Edited by Sash on Date 10/25/2003 ]
Its not uncommon when purchasing multifamily properties to offer subject to inspection. For an owner it weeds out serious buyers especially when premission must be obtained from each tenant to view their appartment,
I wouldnt give an offer before looking at the whole house..inside and out... then that offer would be contingent upon full inspection possibly...
Quote:
On 2003-10-25 18:05, Sash wrote:
Hi
We found a fixer upper we liked and the realtor said to make an offer contingent upon an inside inspection. Why would a realtor want an offer before we look at the whole house? Seems like it gives the investor an advantage because they would expect a low-ball offer.
Thanks
Mike
<font size=-1>[ Edited by Sash on Date 10/25/2003 ]</font>
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I agree with John Locke. Don't make an offer without seeing the inside -- for all you know you could be buying a facade. Multi-unit properties usually are contigent upon inspection because the of tenant occupancy --- otherwise there is no excuse why you shouldn't be able to see the inside especially with it being a fixer.
Good luck.