All Forum Posts by: Scott Johnson

@Scott Johnson thank you a lot

@DJ M.  They very well might tell us to pound sand, but we can still ask.  And if they do, we need to decide if the additional costs we find are still worth continuing with the purchase.

@Scott Johnson  Totally agree in most cases.  The only thing with this particular property is the 4 units are all rentals and my assumption was the seller didn't want to either 1, let the tenants know he was selling or 2, want them to be disturbed every time a potential buyer wanted to come see the property. I can see how it would be a pain to try and coordinate 4 walk-throughs for every "buyer" who ends up not being serious.  I bet that would get old fast for all parties involved.  We'll see next week how it shakes out.

We're in contract for a property that has two duplexes on it.  The seller wouldn't allow anyone to view the inside of the units until there was an accepted offer, yet has stated on the listing "being sold as is". It puts a potential buyer in a bit of a predicament because naturally we'd like to assess the condition of the property and base a well reasoned offer off of that.  In this case it wasn't feasible and so we offered full asking in order to get it under contract. I can see why @Dustin P. said this type of thing drives him crazy, it would bother me too.  Unfortunately, without being able to see the property (per seller's request) they opened themselves up to something like this. 

Of course the listing agent has reaffirmed to our agent that they're selling this property as is...in an effort to let us know they probably won't want to renegotiate if we find anything during inspection.  Our agent let their realtor know that we are aware that the roofs need to be replaced since they can be seen, but as far as ANY other condition or defect it's impossible for us to guarantee we will not ask for any consideration before closing.

Like what @Trevor Emmett referred to in Oregon as far as the meaning of "as is", I believe it's the same, if not almost the same, here in California.  We'll have our inspections next week and if something is discovered that significantly changes what we view the property to be worth, then we'll absolutely ask for some consideration. The sellers will then have to decide what they want to do.  I also don't believe asking for the consideration is one sided.  If we come to terms with a price reduction, it may be in the sellers' best interest too...now they don't have to relist, disclose what was found, hope for a better offer (including the subsequent reduction), risk a softening market, etc.  I will say that if we get into each unit and there's some chipped paint, stained carpet, or missing cabinet hardware we won't be petty and ask for a price reduction.  I feel if you're reasonable with your request and present it in a polite manner, then there is no harm in asking for some consideration if you feel it's warranted..."as is" or not. 

@Scott Johnson I understand that both require a time commitment. However through reading and research it seems as if wholesaling is almost like another job and with my crazy work hours I don’t know how realistic it will be. Buy and holding seems like I can leverage other people’s time for a fee such as agents and property managers.