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All Forum Posts by: Hen Ley

Hen Ley has started 59 posts and replied 105 times.

How common is it for sellers to include professional cleaning and window cleaning with the sale of a property?

Post: How do you perform due diligence economically?

Hen LeyPosted
  • Posts 109
  • Votes 12

@Mark Enriquez Thank you so much for the insights!  Appreciate it-

Post: How do you perform due diligence economically?

Hen LeyPosted
  • Posts 109
  • Votes 12

I'm interested in bidding on a property scheduled to be auctioned.  Currently the private party still owns the property, so if there isn't a successful bidder it will revert to the bank.

What's the most economical way to do due diligence?  I got a complimentary property profile from the title company, however, a full report will cost $200.  The property is also tenant occupied with a seemingly nice person whom I think would be amenable to showing me the inside of the property, but I would feel obligated to offer a cash incentive for the inconvenience.  These figures aren't abysmal, but if you do this with every auction property it starts to add up, particularly if you're not leaving with the property.  Any suggestions as to how to be thorough in your due diligence while still giving consideration to expenses?

Thanks, @Nancy Roth-  To clarify, when you recommend getting a ledger and lease from the auctioneer, are you referring to bank owned properties?  The property I'm interested in is scheduled to be auctioned, but not yet owned by the bank, so it's the private owner who is leasing the property-

I'm interested in bidding on a property scheduled to be auctioned on the courthouse steps.  The property is is tenant occupied-  I've knocked on the door and briefly spoke to the tenant (which in itself feels like overstepping), but I have not been inside the property.  Has anyone bid on a property they haven't see the inside of prior to bidding?  Any suggestions moving forward?