Inspection issues: poor ventillation throughout house and attic, roof near end of life, no drainage outside of house, possible moisture issue with window, need heating and AC replaced and possible foundation problem. Owner has overpriced the house but does want to sell it (to get rid of it no doubt).
2006-07-19 04:26:07 · 15 answers · asked by Blitz 3 in Business & Finance ➔ Renting & Real Estate
Not if the house is overpriced. Figure out what it will cost to reapir all of the issues stated and increase it by 10% (there's bound to be more or cost overruns in the fixing process); subtract that from the original price, then make an offer at that reduced price, IF you really like the overall house, location, etc...
2006-07-19 04:31:40 · answer #1 · answered by ReggieWjr1 4 · 1⤊ 0⤋
No don't buy it that is too much debt over you they have those problems with the house and you have to buy the house and fix it up which will cost a lot of they have too much work to be done to it if they really wanted to sell the house they should go down on the price i nstead of overpricing it.
2006-07-19 15:12:49 · answer #2 · answered by np 1 · 0⤊ 0⤋
Wow, that's a tough one. Roof alone is going to cost anywhere from $5,000-$15,000. Replacing windows can be quite costly as well. You could probably replace your heating and AC unit for about $2,500. Foundation you can't fix! It really depends on what your intentions are with this house. If it's cheap enough and your mortgage loan can cover these amounts, it might be a go...If it were me, I would keep walkin'
2006-07-19 11:30:55 · answer #3 · answered by earzee 3 · 0⤊ 0⤋
Don't buy the house if the owner is going to overcharge you. There is no point of doing all the labor and wasting your money on paying for the house and on top of fixing it. It's not worth it unless if you purchases it and fix it then sell it. A house is not worth to live in if it is going to have problems.
Save your money and find a better place that is better than what you were offered.
2006-07-19 11:31:39 · answer #4 · answered by deviousbeautifulangel 3 · 0⤊ 0⤋
Are you getting financing? Bank might not finance it unless the roof is repaired. Re-negotiate your agreement to get some of these problems fixed. Also, if you put up earnest money and you have a purchase agreement, you might want to see if you can get out of it and get your earnest money back. If you feel like it's not such a great deal, don't go for it. Go with your gut.
2006-07-19 11:47:08 · answer #5 · answered by jeannieunderwood2003 2 · 0⤊ 0⤋
depends on what kind of deal the seller can make with you.. I would give the seller an offer significantly under the asking price (factoring in what it would cost for repairs)...
If the seller REALLY wants to get out, they will take your offer..
If you have any other questions, i would be happy to help..
My name is Jason Fry, i am a mortgage consultant with Providential Bancorp, a nationwide mortgage lender.. I would be happy to assist you in purchasing this home, or another that may come down the road..
Feel free to call me at 312-264-6448, or email me at jasonf@providential.com...
Thanks, and good luck!
2006-07-19 11:33:23 · answer #6 · answered by MortgageGuy 3 · 0⤊ 0⤋
No. Not unless he does the repairs or lowers the price of the house. Some of the repairs mentioned is very expensive like the foundation.
2006-07-19 11:31:46 · answer #7 · answered by Anonymous · 0⤊ 0⤋
If it was cheap and you could do the repairs, sure. But, if it's already overpriced, then what's the point in putting yourself in great debt over a house that needs SO much work.
2006-07-19 11:29:40 · answer #8 · answered by atbrown7 1 · 0⤊ 0⤋
Most defiantly NOT...
Houses in this days are to expensive, and I notice that even barn houses, to said that way, they cost more then an eye.
So no, don't buy it, if you going to spend a lot of money on a house, spend it in something that is worth paying for.
2006-07-19 11:31:28 · answer #9 · answered by Evy 4 · 0⤊ 0⤋
NOOOOOOOOOOOO
The foundation problem alone is enough to walk away from. And you say it is OVERPRICED? and it needs all new HVAC, possible leaking window, bad land drainage and an old roof?
This is screaming BAD DEAL to me.
2006-07-19 11:30:50 · answer #10 · answered by KB 6 · 0⤊ 0⤋