Easier to sell as is , rather than fix it up .

[Matthew Paul]

A customer of mine bought a foreclosure at the court house sale . Little house ,a 2 bed 1 bath in a great area , A Plus schools , nice lot . There were 2 junk cars , trash all around the yard , inside was full of junk and trash , a couple broken windows , rotten deck . The old owner butchered the inside , some structual issues , poorly done bath room , small bedrooms . New roof and decent kitchen . No furnace , no ductwork , and electric pan el was new , but wiring was a mess . Thats the picture .

I go take a look after he got it . He wanted some numbers . Max he could get finished was $375 K . He paid $220K . It was a total gut remodel , my numbers closely matched his of $130K to do the work if we didnt find any hidden problems . 

Way too tight of a deal . Holding for a rental didnt work either . Now he flips close to 4 houses a year , but deals are hard to find and from the outside this house had potential . But once he saw the inside it didnt . 

The market is still hot in this area , i told him to clean up the property , all the trash and junk , trim bushes , cut the grass , clean out the house , and sell it as is . HGTV buyer that wants the area and schools .  He spent a month cleaning and hauling , called an auctioneer , And sold it for $265 k , 2 months later .He cleared a bit over $30k . ( all fees paid by buyer ) .

Barely a base hit , BUT he is happy , it wasnt a loss . 

Courthouse sales can be risky 

[Don Gouge]

The money is in selling to a aspiring flipper. Too many people with access to cash watching TV shows.