Subject to Inspection
In the apartment building world, many properties are listed as “subject to inspection.” This means that your offer is considered subject to inspection of the property. Simply put, the seller understands that you haven’t seen the property, and you can cancel if you don’t like it.
Why do they do this? Usually it’s because they don’t want to disturb the tenants. Or they’re lazy.
Actually, all offers that you make are subject to inspection. During escrow, your inspection team (a general inspector / foundation specialist, a sewage specialist, or, depending on the work you expect to do, your contractor) will do due diligence to make sure there aren’t any current or future problems that might arise with the property. These team members, if they’re licensed, are liable for the information they give you.
Depending on what your team finds, you can ask for a credit from the seller to fix the problem, or back out of the deal and get your deposit returned with good reason. If the listing is “subject to inspection” you don’t even need a good reason.
So don’t be scared to make an offer on a solid deal without inspecting the property. That’s what escrow is for. And that’s where Adaptive Realty will continue to guide you.