Updated over 18 years ago on . Most recent reply
First Property Gonna make an Offer
Alright after working with my agent that I have known for two years (sold me my house and then my parents theirs, we have kept in friendly contact) , she located a property for me. It has all the typical rehab signs. Vacant, people were recently evicted. It's the eye sore of the neighborhood. Bad yard, bad paint (peeling and cracking), inside is a mess, they had about 9 dogs inside, place stinks from urine and feces. Initial walk through I am think 30 to $40K in repairs. Asking price 76K (not on the market yet), I am going to make an offer of $55k with a bunch of outs which I already discussed with my realtor. Hard comps in the area 130 to 140K, house just sold 22 days ago behind the house for $129,500. From my intial inspection, house needs new subflooring, new flooring, kitchen/bath remodel, fixtures/lighting, paint in/out, landscape minor, mainly some sod, and new appliances. It is a 3 bed one bath house 1500 SQ ft, built in 1976. I plan on having three different contractors to give me bids. Heres making my first step, no more sitting on the fence.