We just got our second offer on The Roach Duplex (which again, is no-longer a “roach duplex”)…
While a little bit weird, it was a full-price offer. The weird part of the offer is:
- Buyer is requesting 7 days due diligence
- Buyer has a financing contingency
- Buyer has an appraisal contingency
While this isn’t uncommon for most real estate purchases, the fact that I expected this duplex to sell to a serious investor, I wasn’t expecting a financed offer. I also wasn’t expecting an appraisal contingency (I have no idea what the appraisal might come back with).
Anyway, it’s a full-price offer, and we don’t have any other compelling offers right now, so we’ve accepted it, and we’ll see if we get through both due diligence and financing/appraisal without any major issues. I’d be really surprised if we could close this deal with this buyer, but it’s worth a shot…
{ 4 comments… read them below or add one }
The Roach Duplex…a great name. Were there really roaches? It looks cute.
Great news. I know that place was gonna sell to someone. I had a good feeling about that place, I don’t know why.
Well, hopefully it will sell to this buyer. Between inspections, financing contingencies and appraisal contingencies, there’s a lot that could go wrong…
Aly – Yeah, the first time we looked at this place, there were a lot of *dead* roaches. The bank cleaned the place up before we purchased it…
This would be a heck of a property for a brand new investor. Rent out one side and live in the other. 550 rent would more then cover cover a mortgage payment + PITI for the price you are selling at.