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Steven Haughey's profile image
Steven Haughey's profile image
Steven Haughey
  • Real Estate Agent
  • from Hagerstown, MD
  • Member since Jun 28, 2014

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Steven Haughey's profile image
Steven Haughey's profile image
Steven Haughey
  • Real Estate Agent
  • from Hagerstown, MD
  • Member since Jun 28, 2014
Steven Haughey
  • Real Estate Agent
  • Hagerstown, MD
3
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Buying & Selling Real Estate

Closing in a few days. Cold feet or red flags?

Steven Haughey
  • Real Estate Agent
  • Hagerstown, MD
Posted

Got a property under contract that's is going to be my first investment. Its a duplex in a decent neighborhood, half of which is already rented for 800/mo.

Issue is with the inspection I had done. Sewage in the basement of unoccupied side. Cast iron piping is leaking.

Roof is in need of repair within 5 years.

Electricity needs updating eventually (cloth wiring, knob and tube)

Otherwise only small nickle and dime fixes. Asking: 110k

Purchase: 95k

Comps look good as well

Closing is coming up really soon, so is my reticence warranted, or is this typical "cold feet"?

Thanks, guys!

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Russell Brazil's profile image
Russell Brazil's profile image
Russell Brazil
  • #3 All Forums Contributor
  • Real Estate Agent
  • from Washington, D.C.
  • Member since Oct 20, 2012

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Russell Brazil's profile image
Russell Brazil's profile image
Russell Brazil
  • #3 All Forums Contributor
  • Real Estate Agent
  • from Washington, D.C.
  • Member since Oct 20, 2012
Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
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Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
ModeratorReplied
Originally posted by @Steven Haughey:

@Russell Brazil why wouldn't you, specifically?

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