Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 4 years ago on . Most recent reply

User Stats

10
Posts
7
Votes
Mike Berube
7
Votes |
10
Posts

Crack in Foundation, Quitclaim deed.

Mike Berube
Posted

Hey everyone, 

  I'm looking at putting in an offer on a triplex, listed just under 100k. Currently fully occupied and confirmed rents of 2k/month total..owner paying water/sewer/heat, tenants paying electric. Units are pretty well kept and updated, outside looks fine w/ minor paint chipping.

My two concerns are: 

1. It's a quitclaim deed, property inherited from deceased prior owner.

2. Property disclosure says there's a crack in the foundation.

I think i'm going to put in an 85k offer contingent upon inspection....home inspector should be able to verify the severity of the foundation crack right and I can pull out if its too severe.

Looking for some input on my concerns and whether or not I should go forward with this?

Most Popular Reply

User Stats

10
Posts
7
Votes
Mike Berube
7
Votes |
10
Posts
Mike Berube
Replied

@Reinaldo Lopez thanks Reinaldo, they counter offered at 90k. My realtor ran a cma and the property came in right at 85k. So I'm holding firm at 85k, and retracted my origin request that they pay half my closing costs. Waiting to hear back!

Loading replies...