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Updated almost 4 years ago on .

User Stats

34
Posts
24
Votes
Brian Berry
  • Rental Property Investor
  • Seattle
24
Votes |
34
Posts

Roofstock frustration for new investor

Brian Berry
  • Rental Property Investor
  • Seattle
Posted

As a new investor, I have been looking for properties that would have a good cashflow. I have been working in one particular market, but found a property on Roofstock that was in a different market, but had very good cashflow ($500+/month for a single family dwelling!). So I made an offer. We went under contract on March 19. To date (as of May 1, 2020), Roofstock has not provided an inspection, as promised. We have already amended the appraisal and inspection contingencies twice. Roofstock claims the mortgage company hasn't scheduled their appraisal to coincide with the inspection. The mortgage company has claimed to have appraisals..twice.  Roofstock has only contacted me far beyond when the issue should be raised. All in all I find Roofstock to bare the brunt of the blame. They have failed to follow up and make sure that the appraisal happened. Roofstock doesn't seem to care. They have failed me at every turn. 

  • Brian Berry