Updated over 4 years ago on . Most recent reply
Newbie trying to find out if Is it worth it on
Hey Guys, I am in the NY area and found a property that I am interested in. The house is a total gut job and has a number of violations. I made an offer of $450K estimating repair costs would be at $200k from what I can see. The house is in a terrible state of disrepair and I am not sure what else will come up once walls come down and floors lifted - as it is many of the walls show signs of moisture and I am worried there may be some mold. My $450k offer was turned down.The realtor in this deal is alluding that the ARV is closer to $900k. I have only seen two houses in the area that have sold for that price but most of the other homes are in the 700-800k range. Can anyone advise me please? Should my offer be based on the ARV? Remember I am a super newbie and this question may seem really dumb lol