Posted by Dee-Texas on February 20, 2001 at 10:43:09:
First find out who owns this lot and house. Do you want to rent, sell, L/O…what,if you buy this house? I always figure out what I want with it, how I’m going to buy it and what I would do if I couldn’t sell. Meaning you need to find out the comps in your area for sell and rent.
Then I would go after the owner, make an offer low enough that you will have room to market it and hold for 3 months, plus have room for a pay check for you.
Make your offer in writing with offer subject to inspection. Give yourself some weasel clauses. THEN do all your inspections and ALWAYS, ALWAYS, pay for title insurance.
I’m just scatching the surface, but don’t worry about all of the inspections until you have your offer accepted. Just make sure you give yourself enough room for repairs and your paycheck.