So in my last article for BiggerPockets, I discussed a case of due diligence gone wrong. This time, I discuss a case of due diligence gone right. And it went right because I followed the checklist I laid out in my 5000-word article "The Ultimate Guide to Due Diligence." The checklist, again, looks like this:
In this article I discuss a house we bought a few years ago. During our walkthrough, we found signs of termite damage and had an inspector look at it to confirm. Yup, it was termites. So, We asked for $3,500 off; the bank immediately agreed. It was one of the easiest negotiations I’ve ever been through! That being said, I probably should have asked for at least $5,000 off Getting discounts on your price is one of the biggest advantages of well-done due diligence. (Although walking away from bad deals is the biggest). I also discuss comping out properties and more due diligence items you should look into. Check it out!
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Andrew Syrios"Every day is a new life to the wise man." Archives
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