Contract to closure of a fourplex

[Anant Garg]

Hello Members,

I am in a contract to buy a fourplex in north Texas region and option date start from tomorrow. This is my first investment and want to make sure I do it right.

I need fellow members advice on :

1. What all documents I need to check before option period expires?

2. Can somebody help me pitfalls and do and don't during each step of the process.? I have done some homework but it would be great if i can hear from expert. I know my homework definitely would fall short compare to the knowledge base of this forum.

3. Is there some cost which buyer agent bears that I should keep in mind ?

Thanks for taking time to help me with this. Looking forward to some great insights.

I will post my experience and deal details once i close the deal. 

-Anant

[Aaron Abraham]

Originally posted by @Ronald Rohde:

Have you asked your Buyer's agent or attorney? these seem like fairly standard due diligence items.

I would have to agree with the attorney on this.  A competent title attorney with your closing (escrow, title, closing) company should be able to advise you on the structure & legalities of your deal.  Maybe you are already aware of this but I know a lot of new investors are not, you can have any Title company you prefer.  You don't have to use the same as the seller or your RE agent's buddy.  The couple hundred bucks it might cost you is well worth it.  I hope all goes well for you and your deal!