Advice needed on a property
Hey all,
I'm new and just getting into the REI swing of things. I need some advice on whether or not to continue pursuing a property.
I'm in the DFW area. There is a nice house in a nice, quiet, yet convienient area that has been on the market for over a year. Other houses in that neighborhood are selling in 30 days to 4 months. This house is owned by a holding company that purchased it from the occupant because his job was transferred. The house needed new paint inside, carpet, etc, and the holding company did nothing to for almost a year. When I fist looked, I made plans to do the work, and my lender backed out at that last minute. (Turns out they weren't set up properly to lend in TX).
I got sidetracked by personal issues until this month, and the house is still there. Some work was done by the holder (paint, tile) but not all that I wanted to do to make it really attractive. (other tile, new appliances - nothing fancy, just more modern).
Should I continue to pursue it? It's listed 10k below where it was a fed months ago. Or should I just let it go because there may be other issues that I'm not aware of? I had a contractor look at it give me an estimate in Aug. He didn't note any major problems.
What should I do?
Thanks
Matt