Buying, selling and operating apartments in Portland

Offer Contingencies – Records Inspection | 18 May 2010

Look for unusual items (one-time expenses) or trends in the finances of the property. Look for trends in renter histories also (e.g. is there a lot of turnover which is expensive.) Your broker should reduce the numbers to allow you to get a high level picture of how healthy the property is financially. Get a title report to see if there are encumbrances, liens or easements on the property. You can write an addendum requesting a price adjustment if there is a variance between the representative financials you based your offer on and historical numbers supplied. (Estimated completion time 15-21 days after offer acceptance.)