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Updated almost 7 years ago,

User Stats

198
Posts
40
Votes
Drew Slew
  • Rental Property Investor
  • Union city, NJ
40
Votes |
198
Posts

Multifamily inspection fix question - how to make deal happen

Drew Slew
  • Rental Property Investor
  • Union city, NJ
Posted

Buying a 2 family (last stages, appraisal right now) in Jersey City - Bergen/Lafayette area, right next to MLK light rail. Great location, ok price. Its a conversion from single family and seller hasnt approved ANY of my after inspection fix requests, any suggestions/ideas? 

- Building is nice, seller essentially bought it as a single family, rehabbed it and converted it to a 2 family, but has some issues i wanted to fix but seller simply gave a 5k credit without fixing anything i asked for. I know things cant be perfect, but some things I thought will be fixed:

things i wanted fixed:

flooring - is a bit dented on one of the units, living room - seems like they just did a quick flip, and floor tiles are not perfect and level

washer dryer - no hookups and none present - wanted at least a hookup or one in one unit

pipe diagram - this i believe should be a must, since i want to know where the pipes run behind the walls. documentation of the flip/fix so I have public records as the new owner on what they actually did

refrigerator/microwaves - this is a must, seller claims broker told me these will not be provided..

Not sure what seasoned investors do usually at this point (probably they fix rehab things themselves). You either keep pushing with requests until the fine line before seller had enough if it, or just take it as it is and believe your gut that you are purchasing a good investment? 

Or ask for 10k credit instead of 5k

Thanks for any ideas.

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