Hello BP! I came across an FSBO property which looks like a decent deal, however, I've never done one before, so needed some guidance on how should I go about it? Based on my research and talking to some people I was told to:
1. Hire a competent local attorney
2. Have your property manager hire and be present at all inspections
3. Request tax records to back up rent roll claims.
4. Lookup for any liens on the property or violations - I looked up the taxes and they seem to be paid on time, but not sure how exactly can I lookup any other liens.
Found a link with some other info such as (1)Full disclosure may not occur (2)You may pay too much (3)You could get “stuck” with the house (4)You could lose your security deposit (5)Closing costs can catch you unaware
I was wondering if I need to do anything else to make sure everything is done properly.
Appreciate any suggestions to make sure the process is smooth as realtors are making it sound that it will be a very complex process.
FYI, the property is in NY state