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Updated over 3 years ago on . Most recent reply

Account Closed
  • Investor
  • Indiana
19
Votes |
39
Posts

Can I make an offer similar to opendoor, crediting myself repairs

Account Closed
  • Investor
  • Indiana
Posted

I wholesale real estate, I was looking to see if it's possible that I can make an offer of say $280,000, and then I come to find that the property needs ~$25,000 in repairs, so I fully disclose in the contract that that $25,000 would be credited back to the buyer at the closing table, but the purchase price still be $280,000. I think that I can, but I'm sure there's some wizards here who know I either can or cannot.

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Bill B.#3 1031 Exchanges Contributor
  • Investor
  • Las Vegas, NV
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Bill B.#3 1031 Exchanges Contributor
  • Investor
  • Las Vegas, NV
Replied

Them paying cash eliminates the big roadblock I saw. (The lender saying no.) Now you can simply ask a local title company if you’re in a title state or a lawyer if you’re in a lawyer state. Should be less than a 5 minute call. 

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