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Updated almost 9 years ago on . Most recent reply

User Stats

1,254
Posts
342
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Rich Hupper
  • Broker / Investor
  • Tewksbury, MA
342
Votes |
1,254
Posts

representing a buyer purchasing his first four family

Rich Hupper
  • Broker / Investor
  • Tewksbury, MA
Posted

Hello fellow agents.

I am representing a buyer buying his first investment property. The property is a 4 unit building. 3 of the 4 units are subsidized. The owner has owned the property for 6 years and has lived there for 1 of those 6 years. He has had it professionally managed for most of this time by a management company. My buyer does not want the property delivered vacant. He does want a home inspection contingency and a mortgage contingency. 

What documents should I be looking for from the seller or listing agent to review. Also does the contract with the management company end upon new ownership? 

Is there any particular language I should incorporate into the agreement to make the offer subject to something else. 

What should I be asking the seller to produce during the due diligence period?

Thank you

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