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Ivan Reyes
  • Real Estate Investor
  • San Juan, Puerto Rico
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Short sale house has mold. Would you use to offer low.

Ivan Reyes
  • Real Estate Investor
  • San Juan, Puerto Rico
Posted Feb 16 2009, 12:13

The property I'm shortselling has mold on the walls in a couple of the bedrooms. Small house needs new roof. Is that a strategy you would use to get a rock bottom price from the lender?

Would you state that in your list of repairs and get a mold removal estimate?

Stats:

$65-70k ARV.
Owes $65K with current fees.
$773 payment with escrow
1200 s.f. 3/1 needs roof, remove mold, paint, cleaning, some broken windows, other cosmetic

Will offer $28k

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