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Updated over 5 years ago on . Most recent reply

Jonroy Connell's profile image
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Jonroy Connell
  • Rental Property Investor
  • from Georgetown, MA
  • Member since Oct 29, 2015
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Jonroy Connell's profile image
Jonroy Connell's profile image
Jonroy Connell
  • Rental Property Investor
  • from Georgetown, MA
  • Member since Oct 29, 2015
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Jonroy Connell
  • Rental Property Investor
  • Georgetown, MA
6
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Buying & Selling Real Estate

Multi Family Contingencies

Jonroy Connell
  • Rental Property Investor
  • Georgetown, MA
Posted

Hi all. I am close to pulling the trigger on my 1st multi-family. We currently own one that was inherited but have never purchased one before. What are some, if any, contingencies you can ask for? I am very green on this and could really use your help. Much thanks.

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Jon A.'s profile image
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Jon A.
  • from Asheville, North Carolina
  • Member since Dec 17, 2017
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  • Asheville, NC
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Jon A.
  • Asheville, NC
Replied

This may seem obvious, but I would make sure it is a legal multifamily. For example, not an illegal 4 plex when it should really only be 2. Lots of old properties have been chopped up to accommodate more units than are allowable by code. 

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