I was under contract for a vacant house, previous owner who was also investor started renovation and passed away due to Covid. During inspection, we found foundation issue on concrete slab house, water turned off so can’t check for any leak, can’t find sewer clean out, can’t check if toilets are draining properly. Glue down vinyl floor popped out so many places. After all the work, I don’t see this could be good deal.
Foundation repair 6 k
Electrical work 2 k
Cash purchase price 95k
Unknown cost of sewer and plumbing ?
ARV around 150k
All new Samsung appliances, recently painted, new roof, new HVAC
House build in 1956
Good Neighbourhood where I could find
Anyone has idea what could have done to save this deal?
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