Verbal Offer Accepted - Now What?

[Justin Aymer]

BiggerPocket Folk - I need your advice. I am new and my investor friend is out of town for a while. I put in an offer on a duplex and they accepted the offer. I have no idea what the next steps are.

The price they agreed on is $30k (they were asking $50k). I am estimating less than $20k in repairs. One side of the duplex currently has a tenant on a verbal month-to-month agreement paying cash. I have talked to a bank about financing already.

My questions are:

1. Do I need to get this offer in writing somehow? My investor friend is an agent and she is going to do the contract for me. She is out of town for another week. This is a for sale by owner property.

2. Does a home inspection come first before a contractor to estimate repair costs?

3. Do I need to contact some city home inspector? The current owner has not had it inspected.

What is my next step? Thanks for your thoughts.

-Justin