Buying & Selling Real Estate
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated almost 8 years ago, 12/30/2016
"Just get it under contract" without knowing rehab costs.
Hey folks...
Within the past month, I've heard on a number of occasions "just get it under contract." To give it a little more context, pretty much these people were saying don't worry about how much the rehab costs are, just get it under contract, then renegotiate later.
If a contract says you are going to buy the house for a certain amount, how is it even possible to go back and renegotiate? A contract is a contract, right? Sounds to me that it's a recipe for disaster.
As a newbie, it's confusing, yet frustrating when you hear one side say adamantly say "just make an offier, get it under contract and renegotiate later;" then the other side says "never make offers without knowing your rehab costs."