What do you do - No showings without accepted offer

Question

I've recently seen this on two rentals for sale (one a condo, one a duplex).  Does it mean the inside is terrible?  How do you handle the situation/have handled it before?

Dean H. · Answer

@Luke Feds

It's probably a conscientious owner that doesn't want to subject himself or his tenants to a bunch of no money down / grandma will pass soon and I'll inherit money to pay off if you take a zero down contract.

It's simple, make sure your offer is subject to walk thru / inspection and show ability to close.

Then go take a look

P.J. Bremner · Answer

@Luke Feds

I purchased 2 duplexes a couple weeks ago, both properties required an accepted offer prior to interior inspection.  One property was completely vacant, the other had 50% occupancy.  One property needed only light cosmetic rehab and the other is pretty much needing a full rehab (not quite a gut, but close to it).  One property was negotiated lower after the inspection, the other was countered lower after inspection but the seller refused and so I went with the original offer.  It's common for properties that are being used as rentals.  Sometimes it doesn't really make any sense as to why they won't let you see the place prior to making an offer - vacant rental with a lockbox means the listing agent has no extra work to do.  I guess they just want to make sure people are serious before stomping through their client's property.  Make your offers subject to inspection, financing, appraisal, etc. (Whatever you need so that you have a way out if it's a bad deal).

Hope this helps, best of luck!

Jay Hinrichs · Answer

Very typical with income property.  They dont