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Updated about 6 years ago on . Most recent reply

User Stats

62
Posts
6
Votes
Nyan R.
  • Rental Property Investor
  • Brooklyn, NY
6
Votes |
62
Posts

New Jersey Deal or No deal

Nyan R.
  • Rental Property Investor
  • Brooklyn, NY
Posted

Hi BP I have been in closing for 2 months now and have run into some issues. First issue: After the inspection we found out that the main water source has lead pipe. After it was tested, which took weeks for the results, it came back that the levels were high (19.7 ppb). Second issue: The day of the inspection we didn't get to see the inside of the garage because the landlord said that he rents it out and doesn't have access to those keys. So the appraisal was done and I asked my agent to schedule a day for me to see the garage and the work that has supposedly been completed. I have just been told that I may not be able to see everything until the day of closing. Also, the garage that the landlord allegedly didn't have access to before is actually being rented out to a current tenant that was present on the day of the inspection.So why couldn't I see the garage on the day of inspection?????

Overall, should I continue this deal or move to the next?

Most Popular Reply

User Stats

425
Posts
446
Votes
Joseph ODonovan
  • Rental Property Investor
  • Ridley, PA
446
Votes |
425
Posts
Joseph ODonovan
  • Rental Property Investor
  • Ridley, PA
Replied

@Nyan Reid 1) Are you still under contract? 2) I would never pull the trigger on a deal unless I see the entire property, including detached garages. The last thing you want is a tenant who is living in the garage who won't leave. Now, you have eviction costs and lost rental income. What if the garage is full of junk? Now you have more costs. Nothing good can come out of not seeing what you are buying. Tell your agent that you MUST see the inside or the deal is off.

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