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Updated about 4 years ago on . Most recent reply

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Jessica Strong
  • Wholesaler
  • Freeport, NY
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Wholesale inspection contingency in New York?

Jessica Strong
  • Wholesaler
  • Freeport, NY
Posted

I found an on-market property in New York. I sent an term sheet to an agent to make an offer and I included a 10 day inspection contingency. He said “In our market we do inspections before signing a contract... Most investors also do not do an inspection because they have their contractors..” Is this true?

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Bill B.#3 1031 Exchanges Contributor
  • Investor
  • Las Vegas, NV
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Bill B.#3 1031 Exchanges Contributor
  • Investor
  • Las Vegas, NV
Replied

It’s weird they’d want that many people walking through their property without even making an offer. But…go ahead and walk through it with your contractor then make your offer. If it’s not a stand alone home it shouldn’t take an hour, maybe an hour if it is. 

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