Pulling out of offer if my rehab numbers were off

[Paul Papamarkos]

Hello BP,

This may be a rookie question however I am estimating after repair values based on pictures of several listings.

I was wondering if I place an offer prior to physically viewing the property will I be able to pull out of the deal if After physically viewing the property, I realize that the rehab cost is higher than I had originally estimated.

I would like to be able to make offers prior to viewing properties but not be stuck if my estimates are off. Any way of writing in this type of contingency that allows me to pull out?

Thank you

Paul Papamarkos

[Brian Pulaski]

Depends how competitive your area is. If the house is getting a lot of offers, they will most likely accept one that has no contingency. Keep in mind agents will shy away from advising their client to accept a sight unseen offer, and if you end up doing this enough time (and backing out) you get a reputation. It is a strategy, however I’m not a fan of it.