Should I view a duplex in-person before making an offer?

Question

Hello, new to BP, and new to RE investing. Thinking about putting in an offer for my first duplex. Will have an inspection and appraisal contingency.

Given that covid is surging in my area, is there any benefit of viewing the property personally (ie, is there anything I might find by visiting the property myself that the inspector and appraiser might not cover?)

I'm leaning towards NOT making a visit but want tomake sure I'm not missing something.

Reuben Newber · Answer

James, thank you for your excellent point about how photographs can make a property look better than it actually is!

James Mc Ree · Answer

There is a lot you can see in person that isn't in photos or a video. I've seen several of MLS listings where the seller hired a great photographer. The pictures looked fine, but the house looked awful in real life. The photographer found the perfect angle to show the property at its best. It's their job.

You are reasonably well protected with thorough pictures and an inspection contingency. You risk only your EMD, depending on your state. Buying "as is" without seeing the property nor an inspection contingency would be much higher risk.

Reuben Newber · Answer

Hi Mack, thanks for your reply. Sorry I should have added originally that there are lots of photos and a 3-D virtual tour available of the property website.

So you're right, my question should actually be, "what are some things that I might see in a property tour that I couldn't learn from a virtual tour and google street maps?" The only thing I could think of was maybe smells/evidence of mold or something like that? Please let me know what else. thanks!

Mack Benson · Answer

I think if you have to ask if you should view it then you are not in a place in your investing career to not view it before putting in an offer. Covid is pretty hot in my area but agents are following protocols to keep both parties safe. If you make an offer and something comes up in the due diligence period are you willing to be the investor who retrades because of something you should have seen in the property tour?