Seeking Advice for an Off-Market Real Estate Deal in Columbus, OH

[Masashi Borges-Silva]

Hello,

I am seeking assistance with an off-market real estate deal in Columbus, OH. The seller is offering four single-family homes, one triplex, and one quadplex for sale. As a first-time buyer, I am finding this process to be somewhat overwhelming.

The main issue I am facing is that the seller is not providing me with the exact addresses of the properties. He has requested that I fill out an inspection form, which would grant me permission to inspect the houses. I am concerned about potential risks associated with the inspection fee, but would like to know if there are any other precautions I can take to protect myself. Is there anything I should include in my offer letter to safeguard my interests? I am not sure what else I need to do to protect myself aside from committing to purchase. Are there any other details I should ensure are included in the contract?

Additionally, I am unsure if this is a common practice when buying properties. The seller has stated that he will only provide the form with the address and additional property details after I have paid for the inspection.

I am also a bit wary of the pricing. The seller is offering the four single-family homes for $55k, $55k, $70k, and $85k, respectively. The triplex is priced at $150k, and the quadplex is priced at $200k. All units have three bedrooms and two bathrooms, and the quadplex is said to have approximately 1600 sqft. The seller has also offered bundle deals for all four single-family homes at $200k, two multi-family homes at $320k, and all six properties for $500k. The pricing seems too good to be true. The seller has explained that he is selling these properties to invest in another business venture, as he already owns a fertilizer company in GA.

While I may not have the funds to purchase all of these properties, I am considering turning this into a wholesaling deal for someone else.

Thank you in advance for your help!

[Remington Lyman]

Quote from @Masashi Borges-Silva:

Hello,

I am seeking assistance with an off-market real estate deal in Columbus, OH. The seller is offering four single-family homes, one triplex, and one quadplex for sale. As a first-time buyer, I am finding this process to be somewhat overwhelming.

The main issue I am facing is that the seller is not providing me with the exact addresses of the properties. He has requested that I fill out an inspection form, which would grant me permission to inspect the houses. I am concerned about potential risks associated with the inspection fee, but would like to know if there are any other precautions I can take to protect myself. Is there anything I should include in my offer letter to safeguard my interests? I am not sure what else I need to do to protect myself aside from committing to purchase. Are there any other details I should ensure are included in the contract?

Additionally, I am unsure if this is a common practice when buying properties. The seller has stated that he will only provide the form with the address and additional property details after I have paid for the inspection.

I am also a bit wary of the pricing. The seller is offering the four single-family homes for $55k, $55k, $70k, and $85k, respectively. The triplex is priced at $150k, and the quadplex is priced at $200k. All units have three bedrooms and two bathrooms, and the quadplex is said to have approximately 1600 sqft. The seller has also offered bundle deals for all four single-family homes at $200k, two multi-family homes at $320k, and all six properties for $500k. The pricing seems too good to be true. The seller has explained that he is selling these properties to invest in another business venture, as he already owns a fertilizer company in GA.

While I may not have the funds to purchase all of these properties, I am considering turning this into a wholesaling deal for someone else.

Thank you in advance for your help!

This sounds like a scam. He will probably take the money and run.

The pricing is cheap. I would buy this deal in a heartbeat provided it was real and not completely bombed out