Updated over 6 years ago on . Most recent reply
Option Period Questions
Hello!
My name is Anastasio Burak I am a first time investor looking to buy a multifamily in Houston to house hack. I have found a property that I am interested in but I need some advice. The property has a completely renovated 2/1 home in the front with 3 units in the back that need some work, not including an efficiency unit that is now vacant. I am going to put an offer in soon but my realtor suggests I do a 14-day option period opposed to a contract with my contingencies. I was wondering which would be the better choice, especially considering that I need the seller to put an attic access in one of the back units in order to obtain an FHA loan and I have not gotten to see the back units yet. Thanks
Most Popular Reply
@James De Stefano Thank you! The listing agent is a loan officer and told me that I wouldn’t be able to get a fha loan due to no attic access in the back units. I wanted to get the owner to install an access panel in order for me to get the financing. The property has been on the market for around half a year so I’m sure he would be willing to if he accepts my offer.