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Updated almost 8 years ago, 12/30/2016

User Stats

185
Posts
56
Votes
Andy Cross
  • Wholesaler
  • Culver City, CA
56
Votes |
185
Posts

"Just get it under contract" without knowing rehab costs.

Andy Cross
  • Wholesaler
  • Culver City, CA
Posted

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."

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