All Forum Posts by: Gabe Waldrep

I will third that about the down payment. Make it smaller, just enough to show good faith, pay more upon progress, and keep them wanting to work so they get paid more. Also find a better GC who has better, more reliable subs. Even if a new one is slightly more expensive. If he has subs who can get the job done quicker then it saves you in the long run.

I live in north Texas where foundation movement and repair is abundant. Most foundations can be repaired with little to no issue down the line. Get an engineer to view the property and provide a plan of action. Their opinions are usually unbiased so I trust them the most. I have a few foundation repair companies that I trust due to the amount of work they have done for me. The main side effect of foundation repair is potential plumbing damage. But like Kris said, get an estimate and factor that into your offer. And always allow for extras since it could cause additional damage during the lift.

Congrats Chris! Great to see y'all continue to grow through your hard work and dedication.

Also if buying from a wholesaler, most will not allow inspection contingencies and require non-refundable deposits. You can cancel but will lose your deposit/earnest money.

@Christopher Neal sending you a message.

Demo is probably your best option. It will open the property up for a larger buyer market. If the seller does not have the funds, consider finding a company that will perform the demo and backfill, then accept payment upon closing. If that does not work, then cash or conventional would be your only options.

I would agree with Jason. You definitely don't want them sitting around the property during the renovation process. They have a tendency to grow legs at some point and disappear. If they are actually still there when you finish, they will most definitely be damaged. And trying to store them somewhere will cost way more than any savings achieved. Sales happen all the time. Appliances should be one of your last things right after you have the property cleaned but before your punch list.

The photos look great. Staged well and clean. The are only two things I can think of based on what buyers want in my market: 

1. The floor plan is a little closed off from what a lot buyers are wanting. Buyers want an open floor plan. Not much you can do about that, but it may drive down the price.

2. Are there any bedrooms downstairs? In our market here, homes without a bedroom downstairs, especially the master, tend to sit on the market longer and sell cheaper. 

Obviously I have no idea how your home is priced compared to other comparable sales and active listings, but I would definitely revisit those with your realtor and have him/her show them to you broken down by price per sqft. Good luck to you. 

Vinyl all the way. Snap-in is better but glue-down works fine as well. Warranty is not worth the time trying to chase it down. The planks are cheap enough that you just replace the damaged ones as needed. I will never use laminate again. It is too easily damaged by moisture and has too much of a hollow/echo sound even with underlayment.

I agree with Dustin. Every state has different requirements regarding purchase contracts. Find a lawyer and draw up one you can use.