Fire Damaged Property
Hi there,
I had a call from a realtor that I assigned to find distressed property HE told me there was a house that was damaged by a fire, and he thinks there is no structral damage, however the he is still waiting for the insurance company to release its report.
I am a newbie, with limited green... :cry:
So I can start with a purchase contrast first, and then sell to a rehab investor.
What do you think guys,?!
Any response will be appreciated, thank you 
Get a P&S contract that gives you 30 days for a satisfactory inspection and allows you to assign the contract. Tie it up now. Then see if you can sell it for all cash, close in 2 weeks to an investor. If the investors tell you that it is priced too high, then you go back to the seller and tell them that you inspection shows that there is more damage than you had originally thought and that he has to come down on the price.
Brenda
Hi, brenda
You mean Purchase & Sale contract (P&S)!
THank you