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Making an Offer Subject to Interior Inspection

Sometimes a property is advertised as “subject to interior inspection” or “drive by only”. What does this mean exactly? This means that the seller is selling the property, but only showing it to the offer they select.

As you may know all offers are made subject to interior inspection… just in this case you won’t see the inside, prior to making the offer. It’s a little strange, but it may actually help you out.

Why is this done? With tenant occupied properties, the seller may not make accommodation for everyone to see the property prior to the offer submission. Or there may be some other reason, personal or otherwise, that the property is not made available for public showings. This is more common with short sales or bank-owned sales. This is also very common with larger apartment buildings.

In this case, I recommend making an offer and attempting to see the interior. This process will scare off some other buyers, and potentially allow you to get a better value. I personally have bought two properties like this, and there is little downside to the buyer.

As always, if you don’t like what you see, you can walk away, and cancel, with no cost or obligation under your contract’s inspection clause, within the inspection contingency period. You can also attempt to renegotiate the price based on the interior condition.

We at the Richard Schulman team are experienced in helping you properly evaluate a property for a possible offer subject to interior inspection. And we prepare a complete package to submit with such offers that tips the odds of acceptance in your favor. Give us a call or comment with any questions!

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