Cash buy, site unseen

2 Replies

We found a property that seems like it would be a great 1st deal. We could buy it cash with money borrowed privately. The catch is that the seller will not let us see the inside.  It is currently rented out, but given there are no pictures and we can't enter that these are problem tenants.

We're worried that we might be getting in over our head since we don't know the condition of the inside. Given that we would buy site unseen we were going to offer $75,000 (listed for $95,000) and demand the seller clears out the tenants before we take possession. Too risky or should we go for it?

Maybe that's why it's such a great deal? You may not be able to "force" the owners to get rid of the tenants, they, and in turn, you, are required to honor the lease that they've signed.

Most tenant occupied properties do no allow showings until there is an accepted offer. It's reasonable to require a walk through once they accept your offer.