Making a offer with contingencies

[Ernes Sahic]

I am talking to a owner of a property who is looking to sell and move. I am ready to make a offer, but what I want to add to the contract/offer is some contingencies. I would like X days to close, within those X days I plan on finding a renter for the property and get a loan approved.

• X- How long can I put a property under contract 30-60 days?

So essentially, I want to get the house rented before I take possession of the property, so it is cash flowing. This way I can get a loan in the property much easier.

What do you guys think about this strategy? Looking for some feedback to help me make the best offer.

[Chris Mason]

Here in Oakland if you wrote an offer contingent upon you finding satisfactory tenants, it would get thrown immediately in the trash. I have no idea what the reality is in your market.