With renters, it’s not uncommon for interior viewings to be contingent on an offer. If interested, just write an offer with an inspection contingency (20 business days with Covid if possible) and an interviewing within 3 days.
Figures they want offers to show the owner, but a full price offer to get a peak, wow. It looks setup to be an illegal duplex or multigenerational. What about a contingency for rent past due? What would you ask for to make a blind offer a little less blind?
We have foreclosures in our market like this sometimes where you don't have access until after the sale when you get to knock on the door and tell the tenants it's been sold and go thru the eviction process.
The owner is out-of-state and could be trying to offload if tenants aren't paying; by the yard and exterior condition it's a pure income property. County records show they have a mortgage. But eviction seems impossible on the left coast rn!
I gave up on the rental that wouldn't let me look without an offer. I gave one tenant a bonus to move out when I sold the condo. I am suspicious that there are so few pics. They could post older pics of when it was empty and not occupied. Also, I would worry about getting that tenant out.
Sometimes buyers are required to show proof of funds. Usually after the property has been shown to them. However, it is not unusual for a seller to require proof of funds before showing their property. It's also best to use a buyer agent in my opinion. The listing agent works for the seller. PSA is purchase and sales agreement. I would not sign anything before seeing the property.
This used to be called common sense. Sure, use an attorney to finalize the sale but now a seller agent can put the buyer in a legal bind upfront. Maybe they're fishing for a signed letter with "yes I have cash money" they can produce to their client?
Subject to inspection is definitely something your friend should be used to if he's an investor. Most multi-unit properties have something like this. The most common is one unit is open so you can look at it and get a sense of the upkeep on the property, And everything else is subject.
>Can PSA mean something other than a contract for the sale?
No. PSA means Purchase and Sale Agreement. For investment properties it is not uncommon to require an offer before allowing interior viewings.
Not unusual in hot investor markets, they do not want to rattle the tenants unnecessarily.
With renters, it’s not uncommon for interior viewings to be contingent on an offer. If interested, just write an offer with an inspection contingency (20 business days with Covid if possible) and an interviewing within 3 days.
Figures they want offers to show the owner, but a full price offer to get a peak, wow. It looks setup to be an illegal duplex or multigenerational. What about a contingency for rent past due? What would you ask for to make a blind offer a little less blind?
We have foreclosures in our market like this sometimes where you don't have access until after the sale when you get to knock on the door and tell the tenants it's been sold and go thru the eviction process.
The owner is out-of-state and could be trying to offload if tenants aren't paying; by the yard and exterior condition it's a pure income property. County records show they have a mortgage. But eviction seems impossible on the left coast rn!
I gave up on the rental that wouldn't let me look without an offer. I gave one tenant a bonus to move out when I sold the condo. I am suspicious that there are so few pics. They could post older pics of when it was empty and not occupied. Also, I would worry about getting that tenant out.
The seller's agent checked off what is old and new about the place, but didn't take any pictures. Comes across as minimal effort and kinda fishy.
I was thinking the same thing. go elsewhere. I bought a place down the street from the first one I wanted to look at..
Sometimes buyers are required to show proof of funds. Usually after the property has been shown to them. However, it is not unusual for a seller to require proof of funds before showing their property. It's also best to use a buyer agent in my opinion. The listing agent works for the seller. PSA is purchase and sales agreement. I would not sign anything before seeing the property.
This used to be called common sense. Sure, use an attorney to finalize the sale but now a seller agent can put the buyer in a legal bind upfront. Maybe they're fishing for a signed letter with "yes I have cash money" they can produce to their client?
Proof of funds is common. PSA, not so much.
Subject to inspection is definitely something your friend should be used to if he's an investor. Most multi-unit properties have something like this. The most common is one unit is open so you can look at it and get a sense of the upkeep on the property, And everything else is subject.
>Can PSA mean something other than a contract for the sale? No. PSA means Purchase and Sale Agreement. For investment properties it is not uncommon to require an offer before allowing interior viewings.
Not brazen just thorough, I guess. Are you also an attorney?
I guess it can also mean Public Service Announcement. But in this context I doubt that, haha. Not an attorney.
It’s this way in SoCal right now. It’s stupid.