Originally posted by @Jaquetta T Ragland :
@Sean Byrd definitely an inspection, title insurance. Why no disclosure though🤔...just curious? If he’s being represented by an agent, that agent would want him to have one
There is no requirement for a Seller's Disclosure in Texas for a 4plex. SD is only required for single family properties
#1...on multi SD is not required in Texas. Good practice...good lawsuit avoidance, great risk reduction tool, but not required.
#2...in Texas and probably most places almost all properties are sold "as is". If they state that up front though I find they know something that needs repair and are telling you up front they don't want to fix anything. Doesn't mean you find it, ask them to repair, that they wont repair, but also don't be surprised if they won't repair.
#3....I would carefully inspect the property with your realtor before you pay for home inspection. What's the status of the big 5?
#4...On almost all multi I expect to see deferred maintenance....too many investors don't keep them in good repair and just try to milk them into the ground.
#5...some investor think...I never lived there....I've never seen the property...how can I fill out seller's disclosure? As a realtor I always want them to fill out something. They can check some of the boxes.....they can fill in things like ---Never seen the property, never lived there, etc and leave what they don't know blank. I think that is better disclosure, than no disclosure.
#Remember that people buy houses all the time without and seller's disclosure...and without ever seeing the property or inside the property. Think about foreclosure sales....but there are other circumstances too.