Me and my fiance have a opportunity to purchase the property next door to use for a measly $2,000 here in Sandusky MI. He's the deal the house is falling apart due to a bad roof needs to be torn down, it is twice as big as our place land wise. We are planning on moving and selling our house which is older and in need of alot of updating. I feel like it is a great deal and could possibly add to selling our house we are just nervous of being stuck with it and it being a money pit rather then a profitable deal. The property according to the owner was last assessment was valued at $16,000 I looked at the state value and it is currently $12,000 based off just that alone. We were thinking our best option would be to sell on land contract both ad a deal or the house on contract and sell the land next door straight up to someone but to who? Who needs to take the house down. And input would be greatly appreciated Thanks.
A deal is only a deal if someone wants to buy it. Is there a market in your area for tear down properties? Maybe you could get a friendly realtor to run some comps for you to see if you could make your money back (worst case).
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