(Closed) Update to house search- Low ball help needed!

posted 5 years ago in Home
Post # 4
Member
3028 posts
Sugar bee
  • Wedding: June 2013

I would walk away, sounds like the house is in disrepair and if you could get a mortgage (it might not appraise for close to what you would offer) I would be concerned with what you don’t see…terminates? roof? etc.  If they spent $50k on a house worth $130k and it’s still iffy makes me wonder.

Post # 5
Member
86 posts
Worker bee
  • Wedding: March 2014

Depends on where you are buying I think. My house is almost 30000sq ft itmwas built in 2005 I believe and we got it foreclosed for under 130000. Maybe you should list what area you are buying as I think that makes a huge difference. 

Post # 6
Member
3104 posts
Sugar bee
  • Wedding: May 2016

@jpalm13:  my first thought is that a lot of that stuff is cosmetic- uneven grout lines & meased up paint, while ANNOYING aren’t like gutted walls or a missing staircase. That said, given all the conditions such as the owner being a company k he time it’s been on the market, I’d go in st 95 or 100 and start there. It’s hard to say without knowing the market & comps in the area tho. 

Post # 10
Member
3104 posts
Sugar bee
  • Wedding: May 2016

@jpalm13:  I have a place that sounds pretty similar. Sloped floor upstairs (nothing structural & will be fixed by pouring some concrete at some point). The grout in the kitchen makes me want to tear my hair out. Uneven & bumpy. 

I am in a very diff market- things get an offer within days. I bought this place at about 15k lower than comps based on what I can only assume were these issues. (I paid just a little below list.) I feel like I got a good value because with just about $3-5k this place would be tip top. 

I say go in low low- this company is diff from sellers- there is no emotional attachment. They will counter for sure since it has been on the marks so long. 

Post # 12
Member
5423 posts
Bee Keeper
  • Wedding: November 2012

Since a lot of it is considering “cosmetic” I am not sure how successful you will be.  But there is no harm in trying.

Post # 14
Member
955 posts
Busy bee
  • Wedding: November 1999

Is this house a flip?  It sold in 2008 for $99,000, and its been on/off the market since 2011.

 

 

Post # 16
Member
955 posts
Busy bee
  • Wedding: November 1999

@jpalm13:  You’d be surprised how messed up a foreclosure can be.   I’ve seen foreclosures with ripped-out plumbing, holes in walls, floors destroyed.

 

People get foreclosed and they feel like they can stick it to the bank so they destroy the house.

 

 

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