Doing Repairs Before Closing

[Clay Smith]

Just put a bank owned property under contract (paying all cash) to close near the end of the month. I would like to go in and get it painted, fix some broken windows, and clean before closing. I will do everything else (roof, kitchen remodel, door locks) after closing. My thought is that I can get a tenant in by the 1st of the month, avoid taking off days at work, and have it "showable" before months end. Thoughts?

[Patrick L.]

Nope, never going to happen. The bank will not allow that to happen and will kill your deal if they find you have touched the property. You don't own it you can't modify it and they don't want to be liable for anyone getting hurt, anything happening to the property or fixing anything that you started if you fail to close. You would be trespassing at this point.