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Updated over 15 years ago on . Most recent reply

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Bienes Raices
  • Orlando, FL
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Is this a dealbreaker?

Bienes Raices
  • Orlando, FL
Posted

I'm planning to go see this house in a few days with a realtor. In the description it says it has an illegal garage conversion but "seller may convert it back to garage". Would you want the seller to do something like that, or just get a credit so that you can get your own person to do it?

Also, the house will not qualify for FHA. That''s not an issue for me in my purchase, and I plan to buy and hold for years, but could I get burned on my exit strategy because of this?

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Rich Weese#2 Off Topic Contributor
  • Real Estate Investor
  • the villages, FL
3,499
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Rich Weese#2 Off Topic Contributor
  • Real Estate Investor
  • the villages, FL
Replied

Get the price reduction, leave it as is while collecting the rent, and make sure it is safe. No liability, rent in your pocket and credit to do the work when/if neccessary. Kinda like a triumprate of benefits!! Rich

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