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Updated over 6 years ago,

User Stats

37
Posts
15
Votes
Mike Miller
15
Votes |
37
Posts

Newbie - Multiple Offer Situation

Mike Miller
Posted

I am in the process of making my first offer on an investment property (a duplex).  They are collecting multiple offers to choose from and they need to be in by tonight.  Unfortunately at this time I will need to get a loan, and will request an inspection contingency.  There has been a lot of interest in the property.  It is in good shape, and the owner has replaced windows, A/C units, some appliances, and fixed a roof leak.  Asking price is $260k and rents should be $1150/mo (each).  It isn't a great deal, but it should cashflow and is in a good area.

The seller is an older couple who are starting to have health issues and want to liquidate their REI.

Currently I am planning to offer a small amount over asking price.  Any tips to get help get the offer accepted?

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