I went by an open house this past weekend in West Adams, Los Angeles. There is a 3 bdrm 1 and half bath for sale for 375k.
At last I spoke to the listing agent, there are currently eight offers on the house.
I asked the listing agent what kind of repairs needed to be done he said the foundation is not secure into the ground. That is why there are cracks in the walls throughout the house. Also, the roof needs to be replaced. Can anyone give me a rough estimate on how much those type of repairs would cost.
Thanks in advanced.
With foundation issues it can REALLY vary depending on the extent of the damage. I would really recommend having it inspected by an engineer.
@Mattaniah Yip Roofing can vary depending on if it's the entire roof or patches. Drywall is fairly inexpensive. Foundation suring is a bit of a bear though. Feel free to reach out if you want to discuss.
West Adams is starting to hop, so if the foundation isn't too bad it might be great. Unfortunately, without a contractor inspecting the extent of the damage, it is hard to tell. The damage may be just foundation or it may be structural, depending on the extent of the damage. With cracks throughout the house, it is hard to tell and wouldn't be fair to you to try and estimate the damage.
Find a good contractor that you can work with (I use Chris at Avatar Green and love his work) and get them to give you an estimate. This is probably something that requires someone with some expertise to deal with.
Also, remember that those 8 offers are probably contingent on inspections and they can be withdrawn if the damage is too extensive, so you may want to follow this one through until the end.
Thanks guys for all of your input. I didn't put an offer in because it was going beyone my price point. @Mark Mynhier I've been keeping a keen eye on West Adams and prices have been rising over the past year.
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