Rate This Deal / Questions - Purchase to Demolish

[Caity B.]

Hi everyone - there is a house for live auction tomorrow I am considering bidding on to demolish. The house is about 750 square feet, has a crawl space, and around 100 years old. It is going through probate. I am trying to consider purchase and demolition costs in order to determine what my max bid should be. So far I have the following - 

Purchase costs

Buyer's Premium - 10% of final bid ($1k-$2.5k)

50% of title office closing fee - $250 (guess; no loan)

Administration fee to auction house - N/A? (10% buyer's premium to auctioneer, does not seem to be affiliated with "auction house")

Insurance - $500 (guess)

Broker's commission - N/A (no loan)

Other - stamp duty, survey costs, conveyance fees etc. - $500 (guess)

Permits and required documents

Application for Building Permit - $100 bond (refundable) + $90 permit fee

Utility Shutoff Certificate - free?

Approval from DPW for capping of sewer line - free? (can we just use one of these for $6?)

Well Abandonment Log - N/A

Certificate of Occupancy - N/A (not rebuilding for years)

Inspections - $500 (guess)

Asbestos Removal Training Program (possible) - $625 - $1,250

Misc. other - $100 (guess)

Rentals

Dumpster - Assumed two 40 yard dumpsters for 2 weeks each at $600 = $2,400

Excavator - two days at $600 = $1,200

Misc. PPE & tools - $1k

I should also add we have no experience in demolishing homes.

All in all, above scenario = around $8k - $10,500. Worst case scenario there's a lot of hazardous materials and we have to pay for it to be demolished, max esimate I saw was $30/square foot, let's say $22,500 with the other costs. A comparable piece of land nearby has been sitting on the market at $45k, but is somewhat less desirable of a location and water/sewer would have to be dug. Based on this, was thinking a max bid of around $23k would be appropriate. Would love input or advice.