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12 April 2021 | 3 replies
Kicker: Landlord claims to ask most tenant(s) to sign a rental application without giving any information on what the new increase amounts for rent will be nor contingencies of lease renewal.
11 April 2021 | 1 reply
Hello Im buying a property in cash for $87k and asking was $83.5k even though property is selling As-is and its not contingent on inspection I was still able to do one and found that the unit its about to go out, the roof will need replacing very soon 1 to 2 years left on it and roof has a leak... anyways I'm not sure if I can still negotiate on the price since the lady has dementia and its not willing to fix anything thats why she selling as is...
11 April 2021 | 2 replies
Make a possible contingency in the contract stating one of the units has to be free and clear of any tenants prior to closing.
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22 April 2021 | 9 replies
Kobe - one key step ..if needed to use a traditional loan for acquiring the SFR property - make sure you are 100% pre approved ( not pre qualified ) so that any offer you choose to make is as strong as possible with being able to minimize any contingencies
12 April 2021 | 1 reply
I'm thinking about just leaving the contract during the inspection contingency as it seems useless to try and move it to investors.
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18 July 2021 | 4 replies
we need help after a year trying to get into commercial,we're running out of time in contract on an office warehousecondo and have gone through 1000s of pages of paperworkwith a CDC/SBA/Bank and received contingent approval,but got a screen-out on a SBA 504 resetting the clock.we're running out of time asking for a 2nd extension,offered our earnest money and trying to figure outhow to close this deal in 3 days or less than 3 weeksif the extension is accepted?
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12 April 2021 | 3 replies
But your offer should have an inspection contingency, so if you get in there and see anything you don't like you can get out of the deal.I think you're making a really smart move to start this way.
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17 April 2021 | 18 replies
They will have much more focused feedback than a real estate agent - most of whom have little clue what an investor landlord is looking for.3) Make sure you find & hire your own inspector to avoid conflicts of interest4) Make sure any purchase agreement has contingencies to receive leases, rent ledgers, rent applications, etc BEFORE the closing.You might want to read our series about “How to Screen a PMC Better than a Tenant”, since selecting the wrong PMC is usually more harmful than selecting a bad tenant: https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processes
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13 April 2021 | 6 replies
Purely for example, I was really excited about a property listed at 199k so placed a cash offer with zero contingencies of 205k thinking it would be a solid offer.
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24 April 2021 | 6 replies
A local realtor can give you better specifics, but many homes here are going for all cash, no contingencies and often $30k-$50k above asking price.