What contingencies or "subject to" do you use?

[Daniel Fisher]

Hey all,

I am curious to get some feedback regarding contingencies used when BP members are making offers for property.

What contingencies do you use and why?  Does it change based on your strategy (Buy and Hold or pure Flip)?  Has that evolved as your investing career develops?

Thanks for the feedback!

[Will Barnard]

The need for contingencies is dependent upon each individual property and that of the investor. For me, I can write offers with zero, 3 or 7 day inspection contingencies. The least amount of contingencies strengthens your offer. When I go with zero contingencies am I rolling the dice? Absolutely NOT. I have already walked the property and identified most items of concern. If I feel that I need to make a quick offer with no contingencies to get it done, I may also bring a team member with me to inspect the mechanicals, electrical, etc just to be sure. The rest I can do myself. Plus, if they acceot my offer, I have 3 days to deliver the EMD anyways so I can do a quick inspection within that timeframe just to be sure.

The best offer is not always the one with the highest purchase amount.