First time rehab!!! Need help - Memphis TN
I'm making an offer on my first long distance BRRRR deal. I had a verbal walkthrough of the house from a licensed inspector yesterday and have to make an offer today.
There were limitations as the house had multiple inspectors and was owner occupied.
There was a general estimate of $30k in repairs from the owner.
NOTES based on my discussion with the inspector:
1500 sqft house 3/2
House is on a slab
Roof – 2x8 rafters 24 inch centers, several repairs already made and some that need to be made. Not a full roof replacement. 4 spots where there are torn shingles. One leak in the side front bedroom, but went to the attic and didn’t find anything.
AC – 23 years old but functional
Furnace – 23 years old but functional
Copper pipes – good, wrapped, insulated,
Electrical system – couldn’t look at it - single strand aluminum, not a bad thing – after 1972 the wiring got better.
Chimney – has concerns, black on the bottom portion of it. There maybe a Chimney issue. Use caution
Moss around the house.
No siding issues as it’s all brick except for peaks
Some rotten wood on the eave, under the window,
Aluminum windows – usually does not have problems with those types of windows. May replace screens. Assume that their all good.
There are grounded outlets but not GFCI protected.
Doors open and close.
Seems structurally sound.
House hasn’t been renovated from 1970s.
Lots of popcorn ceilings and only one with a stain in it.
MY ASK: does $30k still sound right? And anything here that should make me run the other direction? It honestly looks better than I expected.