Rehab Estimate: Due Diligence

[Evan O'Brien]

Hello! After you put an offer on a property that is approved by the seller and it is under contract, is that when you’re able to have a contractor inspect the property and provide you with an itemized bid of the scope of rehab work that needs to be done? And if so, are you able to put a contingency in the Purchase and Sale Agreement stating that you’re able to back out of the deal based upon the amount of rehab work that needs to be done on the property?