Once you accept the offer, you will find there are "contingencies" and they use that to tell you all the things that are wrong with the property and that "adjustments" need to be made to the offer.

I had a contingency written in that I would be able to view/inspect all of the units and gave the seller the right to cure.

In addition, we are going to develop a contingency plan in case we decide to not be partners anymore.So what are your skill-sets? 

In general, the ones to avoid are the ones that: Don't allow financing or a finance contingency (it can be a good indication they are selling above market value) Don't allow for your own independent property inspection Are not realistic with their pro forma's (i.e. they don't include vacancy or maintenance projections or use unrealistically low vacancy factors) Require you to pay for any renovation upfront Sell only in cheap. low end neighborhoods Don't accurately represent the neighborhood/property classification Don't have consistent rehab standards for all properties Don't provide a scope of work for the property Can't provide references of repeat investors Require you to close before a tenant is in place

Where I have the tendency to take a built for speed, big vision-casting, build the plane as we fly approach, and am highly energetic and relational, she is able to identify contingencies, execute details, and can easily be stern/disciplined with people as needed.

I asked the tenant that is interested in buying it if they are serious and they said they are considering that option, they want to look at it and the surrounding areas.Doesn’t sound too committed to me, I’m tempted to tell them I’ll provide a tour with a contingent contract to purchase. 

Would you get out of contract ASAP (via one of the contingencies)?

Hi all,Working on a deal and need advice. 1st offer in.Property listed at $665K, offered $500K cash with the contingency that tenants must be removed by closing.

Seller will usually not accept a contract on a short sale which includes a contingency for a home sale.3.

If looking at that new number scares you, then you may want to rethink doing the project.But in all seriousness, add a contingency line item to your budget.