I just sign a contract for off market property, now what?

[Ken Hui]

I have experience buying MLS properties in the past, and this is my first time buying off market property.

I just signed the contract with one property. It will be buy and hold, hopefully BRRRR. What advice would you give me?

[Michael Dumler]

@Ken Hui, what advice do you need? The transaction process is exactly the same as on-market properties. Send the contract to your lender and title company so they can file accordingly. Perform due diligence and review the inspection report. Open escrow. Negotiate. Close haha. If you're dealing directly with the seller be upfront with your intentions for the property. If something comes up during the inspection inform the seller that the repair eats into your budget and you'll need some sort of seller concession, be it a reduction in the purchase price or buyer closing costs. I wouldn't over think it.