Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 9 years ago on . Most recent reply

User Stats

128
Posts
33
Votes
Robert Obniski
  • Investor
  • Madison, WI
33
Votes |
128
Posts

CHICAGO - Buying 2 Flat - How to do due diligence

Robert Obniski
  • Investor
  • Madison, WI
Posted

I looking to purchase a 2 flat in the chicago area and be a live in owner. It's an off market deal through a wholesaler. One of the requirements is a $10k non refundable earnest money deposit. 

Like all deals the seller is having the buyer do all his own inspections and due diligence. 

My question is... what is the best way to go about checking if there are any violations or unpaid fines that can be carried over to me? I basically want to know what outlets i use or call or whater to cover my own a$$?

There are no contingencies in this deal so I need to get it right the first time.

Please share your wisdom BP!!

Most Popular Reply

User Stats

2,042
Posts
1,427
Votes
Mark Ainley
  • Property Manager
  • Roselle, IL (Chicago Suburb)
1,427
Votes |
2,042
Posts
Mark Ainley
  • Property Manager
  • Roselle, IL (Chicago Suburb)
Replied

If the property is in Chicago you can go on the city site.  If in the burbs most villages have the ability to request a Freedom of Information online or going into the city hall.  Also have a title company run title which will outline any liens.  Some of the more sophisticated wholesales have been pulling title themselves earlier in the process to prevent probs down the road so ask the wholesaler if they have title pulled.  

business profile image
GC Realty & Development LLC
4.6 stars
791 Reviews

Loading replies...