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Updated about 2 years ago,
First time under contract, ended up being a waste of time
Hello BP,
Im investing OOS. Got a duplex in a c+ area under contract. The listing had no pics of the interior. Outside had new siding and alot of other work done.
After I made an offer it was accepted. They sent me videos of a walk through and I could already tell it was much worse than I expected.
Regardless my eye is untrained. So I still got an inspection and a contractor to walk it. Rehab was quoted at 250-300k (was told may as well just tear it down) so I terminated the contract as my ARV was 270k max.
-is there anything I could've done at the point of receiving the walk thru videos?
-The contract was signed, was my best option to act on my inspection contingency ?
-Would it be fair to request videos of the interior prior to making an offer ?
-any other tips to avoid this in the future? All in im out $800 and some wasted time. Just trying to take this as an opportunity to learn and better my approach.