Blind Offer - Advice Needed

10 Replies

It’s always best to walk a property first  but it’s not risky  if you have contingencies written in the contract.

Originally posted by @Natalie Kraft :

@Christopher Phillips as a buyer

 If you're not waiving the usual contingencies, then you are protected. If you're sending in discounted offers, then you are taking a lot of the risk out.

It helps if you know your numbers really well.

Originally posted by @Natalie Kraft :

@Greg Dickerson so sending the contract pre-signed is ok? I do have appropriate protections (a diligence period where I have the right to terminate if the property isn’t suitable)

 Yes that’s correct. I would hold back the deposit until you visit the property as well.

Originally posted by @Natalie Kraft :

@Christopher Phillips my apologies if this is a basic question, but what are the usual contingencies?

 Purchase agreements contain several contingencies. They can vary by state and by parts of the state.

Right of inspection

Appraisal contingency

Ability to get financing 

Lead paint contingency 

Property survey

Clear title

In some cases - cesspool, well water, radon etc