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Updated 11 months ago on . Most recent reply

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Sight unseen offer

Carlyle Campbell
Posted

Hey guys, I have done a few deals but still wet behind the ear. I need some advice here. I live in Virginia where I reached out to a home owner who lives in another state who has a house that has been unoccupied for over a year. He wants me to make a cash offer sight unseen and I will not be allowed to get inside the property. What are some recommendations to mitigate this situation? 

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Bruce Woodruff
#3 All Forums Contributor
  • Contractor/Investor/Consultant
  • West Valley Phoenix
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Bruce Woodruff
#3 All Forums Contributor
  • Contractor/Investor/Consultant
  • West Valley Phoenix
Replied
Quote from @Matthew Paul:

Offer only the land value . 


And/or assume that everything is trashed and you have to rehab the entire house.

I have bought houses without going inside, but you can usually get on the property and look in some windows. check the roof, exterior siding, main panel, etc and get a pretty good idea of what the house will need. If you can't see certain rooms, like the kitchen, just budget for a complete kitchen. Do this for the whole house and then add on 20% for complete unknowns.

Realize that there is some reason that this owner does not want you to see the inside of the house, and plan accordingly. It can still be a great deal though...

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