Do Your Due Diligence
You should thoroughly investigate your investment before you go through with the purchase. You should always do your homework. Although it may be tempting to purchase a property without taking time to dig into it, we do not recommend it. Here are a few suggestions:
- Read the contract in full
- If possible, physically visit the property
- If the property is a multi-family, acquire rental history, vacancy rates, etc.
- Know the area in which you are buying, so you know what to expect of that market
If a buyer is not certain that they want to purchase a particular property, then that buyer is advised not to bid on that property. If a buyer has not inspected and/or not performed due diligence on a property and desires to do so before purchasing the property, then that buyer is also advised not to bid on that property. As always, feel free to contact a Micoley representative at 888-662-1020 with any further questions.