Results for ‘Due Diligence’ category

More on dumb brokers

Further to my earlier post on dumb brokers: I am working with a couple now who came to me through this blog (hi guys!). They were previously working with another broker who had them in contract on a small building in the Miracle Mile area. The broker they were working with neglected to inform them

Never Buy a Building with a Non-Conforming Unit

I was once in escrow to buy what I thought was a 16 unit building on Clinton St. in Echo Park, one unit in which was “non-conforming”. The owner had taken a common room and turned it into a studio apartment. The listing broker assured me that this was pretty normal in LA and, indeed,

Who to bring with you to an inspection

Once you get a property under contract, the clock starts on your physical inspection period (also called the “due diligence” or “contingency” period). This is the period, usually 10-14 days, during which you check the physical condition of the property. But most buyers aren’t experts in looking at all of the systems (foundation, roof, electric,

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