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Updated over 6 years ago on . Most recent reply
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Requesting property repair history
I'm interested in turnkey buy & hold investment SFHs in the Cleveland, Ohio market; and contacted a couple firms who interest me selling homes in that area and then managing them. Some of the turnkey listings mention the home is already being managed by this same firm offering it for sale and that this property management arrangement can continue after I buy. That is ideal for me.
Knowing the firm has been managing it, I have requested repair history two times from two different firms was given different reasons why the histories couldn't be shared. The homes I'm interested in are much older than the 1980s/1990s SFH constructions in warm weather climates I'm holding today, and I was hoping to see the repair history to get a comfort level with what I was getting into.
Is this an uncommon request, or not? Should I move on if a firm declines to share that info, assuming the worst?
Thanks,
Jason
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Originally posted by @Jason Alloway:
I'm interested in turnkey buy & hold investment SFHs in the Cleveland, Ohio market; and contacted a couple firms who interest me selling homes in that area and then managing them. Some of the turnkey listings mention the home is already being managed by this same firm offering it for sale and that this property management arrangement can continue after I buy. That is ideal for me.
Knowing the firm has been managing it, I have requested repair history two times from two different firms was given different reasons why the histories couldn't be shared. The homes I'm interested in are much older than the 1980s/1990s SFH constructions in warm weather climates I'm holding today, and I was hoping to see the repair history to get a comfort level with what I was getting into.
Is this an uncommon request, or not? Should I move on if a firm declines to share that info, assuming the worst?
Thanks,
Jason
The simple answer to this question is that the information likely isn't there. It is not very common for owners of these types of homes to have 70+ years of repair history on hand, let alone have delivered that to the company selling said property.
Your best bet when buying a home (especially from afar) is to pay an uninterested 3rd party inspector to go through the home with a fine tooth comb. This will give you the exact condition of the home, no misconceptions of any kind. From there you can make your decision on whether or not you would like to buy said home.