Sight Unseen Advice for a Primary Residence

[Max Mac Phail]

My family is growing it is time to move out of our apartment and into a house, we have been looking for houses and are about to make an offer on a primary residence sight unseen. The house is currently a rental in a hot part of North Tarrant county here in Texas, listing price is about 5% below what similar houses are going for, so we are going in over asking. Listing agent mentioned there was already an offer in that hasn't been opened (great news), but most houses here are spending no more than 10 DOM. I am quite nervous about going in over and then having to negotiate down if there is damage from current tenants or if floors are destroyed. This is not first time I have done this also, my last house was also an offer sight unseen.

What is the best way to approach this in the instance my offer gets accepted? Long term this property will become a rental in about 2-3 when we are in a better equity position and can cashflow.

[Ali Chami]

I've purchased numerous properties without seeing the interior. I follow one simple rule - my offer is based on the fact the house requires a full interior remodel.