Small multifamily, seller financing offers/questions

[Eric Schrader]

Hi group

I was looking at some property locally.  It was 2 units (one 3 unit and one 5 unit).  Some time ago the 3 unit went under contract.  Well, i guess the contract fell trough because it popped back up on the market.  So i asked the agent if the seller would consider carrying the note for both properties.  I was asked about terms, amount, etc..  

So I started to review the properties.  I analyzed them individually then together as an 8 unit. ( 5 one bedroom, (1)  2 bdrm, (1) 3 bdrm, (1) 4 bdrm).  7 of the 8 units are currently rented.   Analyzing as a combined property makes the most sense and meets my criteria.  

So my question(s), what sort of things should i provide back to the agent regarding conditions, contingencies, if i find things aren't right during the process (i.e. inspections, etc)

As always your help is greatly appreciated.  

eric  

[Nathan Gesner]

Hire a real estate agent. The fees for a Buyer's agent are paid by the seller, not by you. If you find one that is experienced in investment property, they will be worth their weight in gold.

It's difficult for someone to hold your hand through this process and answer your questions when we don't know you or the property. Hire a pro and do it right or you may end up regretting it.