If the house appraises for 'X' amount from sales comps, Will would not be valued for 'X' + 15k of structural rehab above that.
A real appraisal is just $400-500. Order one for the after repair value. (rather than the as is value) It will tell you if it is worth it. Keep end mind appraisals can swing + or - 10%
Call my friends at Heavenly Foundations if you think its major structural repairs. Ask for Justin Jones the owner and tell him I sent you. Also, you could consider a second opinion from Beryl Engineering. Any report from these two would help you re-negotiate with the homeowner. We've used them both to do so and make extra profits.
If repairs are more than initially estimated, renegotiate the purchase price accordingly.
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