Updated almost 6 years ago on . Most recent reply
#3 Tax, SDIRAs & Cost Segregation Contributor
- Accountant
- Chicago, IL
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Advice While In Contract
#3 Tax, SDIRAs & Cost Segregation Contributor
- Accountant
- Chicago, IL
Hello all,
I'm currently in contract to buy a multi unit (3 flat) in Chicago. I plan on using an FHA loan for the property which definitely complicated things a little bit. I'm in the attorney review stage and I asked for a laundry list of items to be fixed. However, they are giving me about half of what I requested for all the repairs and for me to fix all the issues that may come up in an FHA inspection. One issue alone will eat up half of that. The other issue is unknown.
They are also unwilling to sign off that everything was done to code. My questions are as follows:
1. Should I counter back and ask additional money for repairs?
2. I’m concerned that the building is not up to code as a result of them not signing off. What should I do?
Thank you all for your help in advance!
- Aaron Zimmerman
- [email protected]
