Made full price two months later

6 Replies

Hi there,

I am a newbie and would like thoughts, ideas on a deal. I drove around a neighborhood and was able to find a seller rehabbing a multi-unit property.  I stayed in contact to express my interest and eventually made a full price offer (which I was fine with) in November before it went on the market. Well, they had some final inspection issues with the City and we still haven't  moved forward. Before doing yet another extension, I asked for what equals to 2 months lost rent. they said no, so I decided to walk away. 

Now he wants to talk.  I haven't even been able to get an inspection done because of delay.  What are your thoughts? Wait or move on? 

Was the property actually "under contract"? . what were the inspection issues, and why would they not let you inspect the property? if its a deal its worth talking.
Typically a buyers inspection is done within the first 10-14 days or a executed contract.

Yes, it was. Electrical issues with City Inspector so couldn't get permit and lights on. We did an extension based on that being resolved.  So, to clarify, they are allowing inspection just having issues to get there.  Thanks for the reply!

got ya. This is a judgement call, depending on how good of a deal it is, and if you have the time to deal with the seller. maybe go in with lower offer or something. i would be very concerned if it took this long to fix code and inspection issues. Who knows how many corners were cut behind the walls.

You don’t own it yet, you have no expenses/carrying costs, so asking for “2 months if lost” is a little whackadoo.

@Wayne Brooks   totally,,,,, my thought where are the damages? he does not own it.. if anything its the sellers loss not the buyers..

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