Have you ever wanted to ask someone out, and by the time you finally got up the nerve, discovered they’d just started dating someone else?
Buying a great duplex investment can be exactly like that.
Because great duplexes don’t stay on the market for long, just like all the attractive, smart, funny, kind, financially secure people who are actually interested in dating don’t stay single for long.
I am constantly amazed that buyers think the greatest duplex deal in the world will last the 5 to 7 days it takes them to decide to write an offer.
Even in a down real estate market, the great duplex deals are snapped up quickly.
And when they’re gone, no amount of shoulda, coulda, wouldas will bring them back.
If you’re thinking of buying a Minneapolis duplex, be ready to act quickly. Have your mortgage pre-approval letter ready to go, be committed to a Realtor who specializes in duplexes, and don’t be afraid to write an offer.
And remember, if it’s rejected, it’s not because you dress funny or smell weird.
It’s because the seller wanted more money, more time, or simply changed her mind. However, if the answer is yes..
Just be sure to make your purchase contingent on an inspection. That will give you, and if you choose, a qualified inspector, an opportunity to go over the property thoroughly before you go forward with the purchase.
And if you and the seller can’t come to an understanding about how to fix any problems, whether physically or financially, you can break up with the duplex.