I ran across a seller today who is selling her condo, and she is presenting it as 2 units. I looked up the tax records and there is only one unit listed( one pin). I discussed this with her and she appeared confused(and genuinely so). She is actually helping her sister-in-law who owns the property to sell it. So i based my offer on 1 unit of 3 br/ 3 bath instead of 2br/2 bath and 1br/bath. I told her that if she can get it zoned as 2 separate units than my offer would obviously be higher than what I initially offered. Wise move? For what it's worth,there are others condos in the building that are being rented as the separate units. Looking for advice on how my fellow BPers would approach the situation...thanks in advance!
It sounds like the physical layout is such that it could be two separate units. I am willing to pay for what is but not for what could be. In other words, I am not willing to pay full price for potential changes.
If she can make the changes then you pay a little more. If not, you may be able to buy at bargain price.
I wish you the best.
Join the Largest Real Estate Investing Community
Basic membership is free, forever.