Looking at property tomorrow - Posted by Shenesa

Posted by Stacy (AZ) on April 20, 2000 at 12:22:56:


If this deal has even the “possibility” of being as good as you’ve said, I think you should consider getting a contract signed without seeing the property. The landlord is VERY motivated, right now, but his motivation may be a little less after he gets this tenant out. Stike while the iron is hot.

Add the correct contingency to your contract, and you’ll be perfectly safe. “This offer is contingent upon buyer’s formal inspection and approval of property, in writing, within 15 days after current tenant has vacated the property.”

Make your closing date “45 days after the current tenant has vacated.”

Anyway, just wanted you to get this locked-up so you don’t lose it, just in case it turns out to be a good one.


Looking at property tomorrow - Posted by Shenesa

Posted by Shenesa on April 20, 2000 at 11:35:59:

Thank you to those who did give excellent advice on this possible deal. Unfortunately, I spoke with the gentlemen this morning to confirm our appointment and he stated that he was not able to show the property today. This is due to the fact that there is a tenant that resides in the house that is being evicted and is not very cooperative. They did serve him an eviction notice and is schedule to meet in court next week. Therefore, the owner did not want me to walk into the unexpected. Although this may seem as a set back but this really gives me time to save up more money to ad with the ernest money that I planned on giving. So perhaps I will be able to give atleast $150 for a deposit and get my ducks lined up.

I did send out letters to home owners in the area and outside the area whose home is for sale or either borded up. Therefore I will be looking to get some responses back from that mailing. I will also be hitting the pavement again in search of MOTIVATED SELLERS and making my phone calls.

Again, thanks for the great advice that was given. I will keep you guys posted on my endeavors. Any investors out there in the Albany, NY area who may want to partner?

Much Success!