Updated over 10 years ago on . Most recent reply
Underpriced multi-family with foundation issues
Good morning BP,
I found a nice double in a good neighborhood of Buffalo that keeps getting marked down since it was listed 3 months ago. I went to see it and aesthetically its in great shape on an good street where these types of properties get snatched up in a week. The seller disclosed there is a pretty significant foundation problem. An inspector estimated repair cost at 7k to insert support pilings in the basement, but its not a lifetime guaranteed repair.
Its currently at 130k, where comparable homes sell for about 160-180k. Deal or no deal?
Anyone have similar stories or advice to share? Thanks