All Forum Posts by: Mary lou L.

http://news.yahoo.com/yes-this-listing-is-the-filthiest-home-in-204556620.html

From what I've seen here on BP  this house is child's play!!

Fort Walton Beach/Destin area is nice and warm! I do not have property in the area, but I did live there while I was stationed at Eglin AFB. I kick myself for not buying something back then!

First I would check to see if it is even worth it at this point to do a cash out. I cant speak for most lenders but the lender I chose only would do 70% of the appraised value. Then out of that you have to minus the closing costs.

A cash out is very much like purchasing the home all over again with a mortgage, you will need documents such as your w-2s, leases on the property, last two or three years of taxes, id, and bank statements. 

 Up front fees may be an appraisal and a survey.

I would start by calling lenders, they can run your credit and give you a basic idea of how much you qualify for.

Good luck!!

A great website for this area is metrolistpro.com. It shows this property pending.

@Bruce Runn according to the county website the market value of the land is 5031.00

@Bruce Runn the home is located in Texas.

@Mike Wood The fire damage is in the laundry room and part of the kitchen. the rest of the house just needs a good cleaning and trashout. It was a hoardery kind of place. its 1050 square feet. 3 bd 1 1.5 bath

This is my rental Not the burnt out house.

 I hope what the end result will be.

H

The home two doors down from my rental had a fire in the laundry room. It burnt that side of the  home through the roof.

This home is very similar to mine, built at the same time, same finishes, exterior. The appraised value of mine ( just did a refinance within the last month) was 68k. So I figure this home at least to be that.

My contractor says he can get the home back into shape for 25-30. I have at least that much to get started.

The owner just got the deed. The home has been paid off.

I was thinking of starting the offer at 2500. It needs a full cleanout and gut even before we get started on the rest.

I am also going to enlist a local realtor to handle the transaction. The  home is in Texas.

If this goes through I will surely post pics and progress of the rehab.

Please let me know that I am not crazy, and if I am call me out on it!!