What DO You Think?
My agent sent me notification of a bank owned house that just fell through - the bank won't finance because of foundation work needed. (Estimate of $3500 to fix) Comps in area between 200 and 300 K . Cash to buy outright from bank... $166.000. Agent said it needs some additional minor upgrades...painting etc to turn into rental.... or more extensive 10-15000 to turn into flip. Why would a bank not loan on this and just include foundation repair in total price? I'm just trying to figure out their reasoning.