Updated about 5 years ago on . Most recent reply
Beginners question on buying a triple decker in Brockton MA
I am looking to buy a property (3 family home) in Brockton MA. I see one that is on the market but, is being advertise for more towards an investor or contractor due to the amount of work that is needed. From the pictures of the building, it look like it will need major work done to it. The property would not qualify for a FHA loan. My question is, would it be possible or even recommend to ask the seller if they would go down on the asking price (450k). Typical 3 family homes in the area usually are for mid to high 600k. The house would need to be discounted a bit more to make sense to get a loan and repair this house. Granted, I have not seen the inside of the units but, from the description, you can not even go in without a hard hat (says a lot about the property). The property to me is over price but, I can be wrong. Looking to get some advise.
Asking price: 450k
typical price for triple decker are 640k to 690k
The house needs tremendous amount of work