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Updated about 10 years ago on . Most recent reply
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Highest bid on auction - septic - can't test before buying
Hi all,
So I'm the highest bid on an online auction house but I can't test the water - or septic system (lansing mi). The bid is for 35k and the house sold for 133k in 2006. I had the house pre inspected and the roof is shot, furnace is old, and the septic could be bad....
My question is - do I have enough room in this deal? ARV is about 100k right now.
I researched septic costs and it's about 5-12 in Michigan. Thoughts ?? Worth the risk ??
Roof is going to be about 5-6. Furnace is 3. Other cosmetics about 5-10.
35k PP + septic 10 + roof 6 + cosmetics 10 + furance 3 + contingency 3 = total investment = 67k ....
Thx,