Newbie Making First Offer
I'm set to make an offer on a apartment building that seems to give me $400 postive cashflow a month. It's listed with a Real Esate agent and I want to make sure I do things the correct way. Can someone fill me on the proper paperwork and or Form I can use to do this......I am eary about a fire escape they put on the building, I'm not sure if they had the right Licenses to do the work. Do I put "this offer is contigent on the right licenses to do this work? Any advice would be helpful. Thank you
you should probably get yourself an agent. get one who specializes in what you are trying to do. It wont cost you anything since the seller is the one that pays the commission(at least in my state). and just make your offer contigent on a home inspection that is to your satisfaction. then when you or a proffesional inspect the house check that part about the firescape. if its not right come back and tell them you would like them to fix that before you close. or if they dont want to do the work offer them less for the apt to do the repairs or you can actually have them give you cash at closing so you can get it done. again, a GOOD real estate agent will be helpful.
The other thing is you should be very confident it make 400/mo cash.
If it doesn't you could be in an upside down property.
Check w/ the city, county or state about special requirement for apartments.