Writing an offer when you can only see some of the units

[Fran Flanagan]

I'm considering an offer on a 4-plex, where the two upstairs units are occupied. Understandably, they don't want people tramping through kicking tires.

The downstairs needs work. If we got it we would plan to totally renovate the downstairs to make it into a more modern layout. I wouldn't want to live in the upstairs if it looked like the downstairs, but people live there so maybe it's better? (I'm newer to this, so not as much experience as some of you in what sort of conditions people willingly tolerate.) Obviously if the upstairs needs as much work as down, the price I'm willing to pay adjusts accordingly.

How would you price an offer here? As if upstairs is OK to get contract, then negotiate downward if it's not? What sort of contingencies would I need to allow for this secondary negotiation?

Basically trying to figure out the correct balance between protecting myself and not making my offer so obnoxious / intimidating that it's rejected immediately.

Thanks, Fran

[Bill Gulley]

If I'm selling 16 units, no one is going through all those until an offer is firmly planted. There are not going to be multiple lookers getting multiple appointments with all the occupants. There can be one look see, if there are issues in any unit, other appointments can be made to address those issues. A 4 plex would be easier but there still won't be lookie-loos one after another bugging my tenants who have the right of quiet enjoyment. Appointments can be made after a basic deal is struck and the ability of the buyer to perform is verified. :)