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BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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Updated over 1 year ago on . Most recent reply

User Stats

102
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Travis Andres
  • Investor
  • Los Angeles
47
Votes |
102
Posts

How to add contingencies in offer?

Travis Andres
  • Investor
  • Los Angeles
Posted

Just about to start out with our first investment and may have found a property to BRRRR, but want to make sure that it's in good enough condition for what we are looking to do.

I know I’m supposed to add some sort of contingency in the offer that will enable us to adjust/back out of the deal if we see something really wrong with the property, just not sure how and what language to include. 

Any help would be greatly appreciated!

  • Travis Andres
  • Most Popular Reply

    User Stats

    5,101
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    Nicholas L.
    #1 Starting Out Contributor
    • Flipper/Rehabber
    • Pittsburgh
    4,082
    Votes |
    5,101
    Posts
    Nicholas L.
    #1 Starting Out Contributor
    • Flipper/Rehabber
    • Pittsburgh
    Replied

    @Travis Andres

    are you working with an agent?  is this off market or on?

    there are multiple contingences in standard contracts - appraisal, financing, inspection, etc.

    you want to be sure to include the ones you need

  • Nicholas L.
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