No viewing until under contract?

[Dave Craig]

Was made aware of a house that just came on the market today. Existing tenant but no viewing until under contract. This would be my first property and that just sounds too risky to me. Are there documents or info I can ask for that could make this a more solid deal or should I just walk away?

[Bill B.]

I listed a property the same way last month. It took 7 days instead of maybe 3 or 4 to get a buyer? Long term tenant was moving out in a couple weeks and was pretty adamant about not being open to showings. Could we have forced it? Or course. Could the place have been a mess and shown terribly costing us thousands? Could a showing be cancelled because of a sick baby or some other “emergency”? Obviously. 

Why bother? So tire kickers can walk the property and disturb tenant with no skin in the game? I can’t remember the last time I walked a property before putting in an offer. You know the age, size, location, and the represented condition. Get it under contract, have the inspector and appraiser walk it, and close. 

Unless you’re paying cash with zero contingencies what do you gain by walking it? Put in a 3 day inspection period and you’re golden. Or wait until it’s empty. Either it will already be sold and you’ll know better next time. Or it will be empty and you’ll have a chance to bargain, if all the other buyers don’t come out of the woodwork. In fact. Now that I think about it. It’s probably good for you as the buyer it’s set up this way. Keep all the new investors or people looking for a reason not to start form bidding you up.