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Adam Marx
Pro Member
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Looking to buy my first home from wholesaler

Adam Marx
Pro Member
Posted May 2 2024, 12:03

Good afternoon,

So I have made a verbal commitment on price for a home.  It does not need alot of work but a toilet is missing.  The current tenant says they have gotten the problem fixed but all that is required is some tile work and installing the new toilet.  Now the wholesaler is pushing to move this quickly.  I am looking to get an inspection done just to verify that the plumbing is not going to be an issue.  I do not feel that this is a ridiculous request.  I figured I am willing to sign saying I will purchase on the contingency that I am satisfied after an inspection.  So I am asking everyone's opinion on this.  

Also, the tenant is being given 30 days to vacate with 10k$ being held in escrow.  I am new to this and this would be my first purchase.  Should I run away simply on the fact that there is a holdback due to the tenant needing to vacate the property? Is there anything I need to be concerned about with the tenant.  I met him when I looked at the property.  I can't say I am worried he is going to destroy the property as he does not seem angry with the situation however I am curious what those with more experience my offer in advice.  Thank you.  Sorry I would go into more detail but I am trying to juggle a million things in a short amount of time but was hoping to hear your thoughts.  Thanks!!!!!

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