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Updated almost 5 years ago on . Most recent reply

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Stephen N Workman
  • Investor
3
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15
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Due diligence before closing

Stephen N Workman
  • Investor
Posted

Hey, I just got a 2 unit multi-family property under contract. It is not the best deal so I want to take this time to figure out how to negotiate the sale price. the attorney is sorting through all the title stuff, the house is inspected, a contractor is currently working on pricing the renovation, and the mortgage is pre-approved,  what other points of due diligence should I be focused on at this time?

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5,116
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Kyle J.
  • Rental Property Investor
  • Northern, CA
5,175
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Kyle J.
  • Rental Property Investor
  • Northern, CA
Replied

While all this stuff is fine to get during due diligence, it's not the best strategy to collect it for the purpose of re-trading on the price AFTER you're in contract.  It almost sounds like you just plan to START negotiating now that you're in contract.  Perhaps I'm reading that wrong because of how you worded it, but if that's the case, not a good way to do business.

Just my two cents.

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