Rochester NY investor doing first all-cash deal

[Kellan S]

Hello BP...I'm finally (FINALLY!) making my first post.  I wanted to share my current situation and get some insight from more experienced investors.

So, I own two 2-family homes in Rochester, NY and I'm in the process of doing my first all cash deal.  I put in my offer to a realtor and she contacted me today to tell me she's going to write up the contract tomorrow, but needs additional info.  Here's where I need some experienced investors to help me out, since I've always relied on banks for most of these tasks.

The realtor is requesting my deposit amount, closing date, engineer's inspection required, and anything else that should go in the contract.  So my questions are: how much should I put for a deposit ($1000?)? How far out should I expect to close (I was thinking about 2 weeks. Is this reasonable?)? And can anyone recommend someone to perform a property inspection (I may have someone for this, but I'll have to dig for their contact info...from about 4 years ago)?

Any help you guys/gals can provide will be very much appreciated.  Thanks in advance!

Kellan

[Steve Santacroce]

$1000 is fine, that's what I've always put down. You won't be able to close in 2 weeks. I'd put 6-8 weeks. I've done a few all cash deals and haven't gotten one closed in less time. As for property inspection, back when I did that I used Warren Engineering. They always did a great job. 

Congrats on your deal, and good luck!