How to make competitive offers!!!
Hello all,
I am fairly new to the real estate investing world but I have been at it for about three months trying to get deals to work out with on-market leads. However, it's been pretty difficult winning a bidding war. Most of the properties I am targeting are distressed or outdated and my plan is to fix and flip them.
This is what my offer includes...
- ALL-CASH offer
- Inspection Contingency: 10 days
- EMD: min $1K
- Escalation Clause
In the bidding wars, buyers/investors are waiving inspections which I find risky... yet their offers are stronger because of it. How do you know when to waive an inspection and what are the risks to take into account?