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Updated over 4 years ago,

User Stats

12
Posts
4
Votes
Kyle N.
  • New to Real Estate
  • swanton, OH
4
Votes |
12
Posts

In Contract - going in blind.

Kyle N.
  • New to Real Estate
  • swanton, OH
Posted

I'm looking for feedback how best to leverage this information in my negotiations to close. The property needs some work and my goal is buy/hold as this is my first property, House hacking, 2 units (2b/2ba). The unit has a detached garage/workshop that I could turn into another unit down the road.

  • -1 unit occupied (seller knows the tenant), 1 unit vacant
  • - Seller and Tenant are family, no leases
  • -Tenant has a pet and is month to month
  • -Agent said they didn't have disclosures yet, I put in a offer same day and it was accepted then he gave disclosure same day.
  • -Listing and Agent communicated tenant pays $1750 disclosures say $1500. I would break even now.
  • -Disclosures were basically empty; no reports, no leases, no inspections.
  • -I did some info hunting myself with the city and the owner registered the building for section 8 in April 2019 but didn't mention this
  • -Seller Questionnaire - Owner is not aware of anything going on in the property
  • -The owner bought the property last year.

Since its my first time, what are your check and balances?

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