help he analyze this house

1 Reply

I've found a house which has some features that are perfect for my friend who I live with and it is priced low enough so that our bills would not go up substantially if we split them evenly. The problem is its pretty rough.

It is a 1080 sqft 2 bed 1 bath with a 2 car garage a large pool and a walk in tub. It has a mixture of tile laminate and linoleum. The laminate and linoleum are both at the end of their lifespan this accounts for about 75% of the flooring. Most of the windows are older double pane and one of the old single pane windows is broken. There are no window coverings on any of the windows. The bathroom has the walk in tub which would be perfect for my friend who is disabled but there is standing water on the ground from a leak. I checked under the tub and it looks dry and the water to the sink has been turned off so I'm sure the leak is coming from the sink. The pool in the back is huge but the pump doesn't appear to work. I've got a friend who runs a pool cleaning service so I plan on having him take a look a look at it if I decide to make an offer. The detached two car garage unfinished. It has a large attached laundry room and there is another small attached room which I wasn't able to get into.

So here's the kicker. The roof on the garage is gone. I can see daylight through the slats. I have to assume the roof on the house need replaced too. 

I know the house is not worth the asking price with all the repairs needed but if I can get the seller to make some of the needed repairs there could be a deal there.

How much money do you have to pay for repairs? If its at least 20K then by all means buy it and fix it up to your liking. If you are a pretty handy and could do a lot of stuff yourself and have at least 10K to do repairs, then yes buy it. HOWEVER, If you are none of those and don't have that kind of money to make repairs then run far, far away from this place. Its sounds like major work that will take up a good portion of your time. I would never ask the seller to fix anything for me because you know he is going to do a half-a** job so that he does not spend any of his own money. Either ask for a significant reduction in purchase price or as for ALL seller assist during closing. If they refuse, walk away.

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