Submitting first offer
Hey BP,
I'm going to be submitting my first offer very soon and was wondering what type of conditions, settlement period, financing, inspections etc. is recommended for this situation.
The home is a fixer upper in need of quite a bit of work but it looks to be structurally sound. I plan on using this property as a live in flip but may end up using it as a rental in the future instead depending on what my situation looks like after the initial 2 year period of primary residence. I used 70% of ARV minus renovation costs to get the purchase price to offer.
I'm not sure what kind of inspections should be done if any, how long the settlement should take, what the best option for financing would be (I was looking into FHA 203(k)) is there anything else I need to know to make a solid offer?