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Updated over 9 years ago,

User Stats

204
Posts
174
Votes
Josh Dillingham
  • Rental Property Investor
  • Brattleboro, VT
174
Votes |
204
Posts

When to get an inspection on a short sale

Josh Dillingham
  • Rental Property Investor
  • Brattleboro, VT
Posted

I just got a property under contract, it is my first deal.  It's a short sale.  The offer still has to be approved by the sellers bank.  My agent has told me that I should get an inspection done right away, but it makes more since to me to wait until I here back from the sellers bank before I put any money into the deal incase they come back with a counteroffer that doesn't fit my numbers.  I'm confused as to why my agent is asking that I get the inspection done now instead of waiting for the bank.  When I asked him about this he simply responded that I should get the inspection done right away. My only thought is that he is getting pressure from the selling agent to get the inspection done now so that if I wanted to get out of the deal they have time to find another offer before the bank decides to foreclosure.  but that's not my problem so it shouldn't be my agents problem either, right?

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