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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.