Has anyone delt with an abandoned house build investment?

[Brandon Patrick]

Hello All,

I came across a lot for sale? The builder and the homeowner could not agree to terms for a house build. The owner sued the builder and was paid out leaving the property abandoned for 2 years now. The lawsuit has been finalized and the owner has made the decision to just sale the land for $170k. $204K of work was completed, but the owner is ready to dump the property and move on.

Arv is worth $800k. All inspections were good, but the home would need new permits.

My question is if the abanded property can still be salvaged or does it have to be torn down and redone after sitting in the elements for so many years?

[Noah Bacon]

Quote from @Alan F.:

Quote from @Brandon Patrick:

Hello All,

I came across a lot for sale? The builder and the homeowner could not agree to terms for a house build. The owner sued the builder and was paid out leaving the property abandoned for 2 years now. The lawsuit has been finalized and the owner has made the decision to just sale the land for $170k. $204K of work was completed, but the owner is ready to dump the property and move on.

Arv is worth $800k. All inspections were good, but the home would need new permits.

My question is if the abanded property can still be salvaged or does it have to be torn down and redone after sitting in the elements for so many years?

2 years is quite a bit of time, but this could be a great deal non the less. IMHO it needs hands on it to really tell. Theres a great GC on the forum and he lives in AZ. I can't tag from my phone lol. His name is Bruce Woodruff. Maybe find him on forum and DM. Hopefully he'll see this thread anyway . I really hope this works for you!

@Bruce Woodruff tagging you for visibility! Any recommendations on the above with your long time GC experience?