Investing in Contra Costa County Real Estate – Making an Offer Site Unseen!
If you are looking at Investing in Contra Costa County Real Estate things are a little different than buying a home to live in yourself.
I do a lot of shopping for out of town Real Estate Investors and even help them buy homes that they have never seen.
However, there are other reasons you may not be able to see a home before making an offer. Often times on multi-unit properties, 2-4 Units or Apartments the seller will state they do not want anyone to see the property before putting in an offer or going into contract.
Why? Well there are several reasons for this. A landlord has an obligation to give advance notice to tenants of entry. The tenants have paid rent and have a right to the uninterrupted enjoyment of the property. Well if people are constantly coming through the place that is really an affront the tenant. The seller wants to make sure that buyers are serious before opening up the property to them.
Sometimes owners do not want tenants to know the property is for sale. When there is a sale some tenants may opt to move as they may be concerned about the new management, just the changes, or potential rent increases.
Does this mean Real Estate Investors do not get an inspection? No it simply means that you generally are in contract first. Sometimes the initial walk through will be at the same time the Property Inspections are going on; sometimes you can do an initial walk through before hiring the inspectors.
Remember the more units on the property the harder it will be to set up the inspections as all the tenants need to be given notice.
However, by all means I think you should drive by the property and around the neighborhood if you can. If permissible for a large complex you might wish to walk the exterior of the property too.
Multi-unit Properties are excellent Real Estate Investments so if you are thinking about Investing in Real Estate give me a call at 925-260-4321.