Buying Situation - Need Advice
Situation:
There is a turnkey listing in my market and my max purchase price is list price for the home. This is based on sold comps and rental comps in the area. The problem is that it is not fully renovated yet and there is a open house in two weeks (when it is completed). I obviously have not physically seen the property yet (besides driving by it). I would like to take the best course of action that will increase my chances of purchasing the home.
Options:
1. Contact the listing agent and see the property before the renovation is complete. If I approve and there are no curve-balls, put it under contract before it is completed with the contingency that it will be completed as stated. (I don't know if this is possible, but it sounds good).
2. Wait and show up to the open house with pre-qualification letter in hand and put an offer on the property.
My only fear when seeing the listing before the renovation (option 1) is that they will still hold the open house. And at the open house they will tell other buyers that there is a full price offer is on the table with hopes that the offers will go over their list price. If I make an offer on the home before the renovation I would need the contracts signed before the open house. I don't want to reveal my hand to early.
Whats my best course of action in this situation?