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Updated almost 6 years ago on . Most recent reply

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4
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Valerie S.
  • West Islip, NY
0
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4
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Obtaining information on a multifamily home

Valerie S.
  • West Islip, NY
Posted

Hi All,

My first post here after reading countless posts over the years that have provided invaluable insight and information - it feels like an occasion! 

I have spent the last few years educating myself and saving money and I am now considering making an offer on a four-plex.  The property is fully rented currently and I have been inside - everything is pretty recently renovated.  The property disclosure says some roof repairs have been made and that there has been water in the basement. I also have a pro forma, but before making an offer and potentially sinking money into an inspection, I want to confirm that the tenants aren't currently delinquent on rent and would like further information about the age of the roof and the prior water issues in the basement.  My agent has asked the seller's agent, and he said he would get back to her but he hasn't and it has been several days. I know the property is owned by a big investor and that the property is managed by a PM.  Any tips for getting this information if the agent doesn't get back to us shortly?  Is it standard to request this basic info before having an accepted contract? Of course I want tax returns etc. but I'm willing to wait until we have a contract for that info. 

Also, the property, which is in Pennsylvania, was renovated over the last two years and taxes haven't been reassessed in about 10 years.  Anyone have any insight into whether the city is likely to reassess taxes when the property is sold and what a typical increase may look like if the property doubled in value? 

Thanks,

Valerie

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